The latest research and data from Zoopla has projected that over 100,000 additional sales are likely to take place in Q1 2021 from the mega transaction volumes caused by the rush to beat the stamp duty holiday window.

Demand remains 34% higher than this time last year. The market experienced a sharp dip after the announcement of the first national restrictions in England (when viewings could not take place) but it rebounded after a month.

Demand levels are set to stay strong for the remainder of this year, and the monthly sales completion estimate suggests the strongest November and December – and the run-up to Christmas – for over a decade. A further demand spike can be anticipated for next year especially the first quarter.  One reason for this can be investors who left it late to enter the market in an attempt to beat the stamp duty deadline.

The boost to demand and sales volumes has led to an increase in property prices approaching an almost three-year high of 3.6%, up from 1.3% a year ago, with 2020 expected to end with house price inflation reaching 4.2%. The scale of growth is explained in part by a massive surge by owner-occupiers. They account for over 70% of the transactions, therefore they have had a much bigger part in rising property prices/demand this year.