The Royal Institution of Chartered Surveyors' (RICS) released a report earlier this week, predicting a slight rise in the amount of residential property sales due to the final weeks of a stamp duty holiday.
RICS also stated that sales in the next three months are also expected to be the highest level since May 2010. The 1% stamp duty is expected to be re-introduced on March 24th, affecting first time buyers purchasing properties valued between £125,000 and £250,000.
The report was also backed up by the Council of Mortgage Lenders (CML), on Monday, who commented on similar figures; saying that the increase in the number of sales, at the end of 2011, may well be the result of the approaching expiration of the concession.
The rise in sales wasn’t completely attributed to the stamp duty return however, with the mild winter also seen as a significant factor in the increase in house sales.
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