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Residential property market steadies at elevated levels the latest data showed

The UK residential property market steadied in the past week, remaining at significantly elevated levels overall with new vendor enquires holding flat at 26% above average, while buyers dipped 6% to help partially redress the significant demand/supply imbalance, the latest data from the Yomdel Property Sentiment Tracker (YPST) showed.

Landlords recovered some of their recent losses, bouncing back 8% to end the week 7% below average, but this was swiftly offset by an equivalent rise in new tenant enquiries. However, traffic to own-branded estate agent websites remained some 31% above average and the volumes of new leads generated via live chat overall was up by more than a third compared to pre-Covid data, to show that the extraordinary shift to digital seen over the past year is likely here to stay.

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Yomdel provides 24/7 managed live chat services to 3,800 estate agent offices in the UK, handling more than a two million chats per year. It has analysed the data and leads captured in live chat going back to January 2019, up until week ending 13 June 2021. The website visitor data is a sample across major estate agency groups in the UK and covers in excess of 55 million unique website visits back to January 2019.

“Estate agents are facing the tightest new instruction crunch in many years, with buyers scrapping for well-priced properties, but this is set to inevitably slow as the stamp duty holiday starts to be wound and people turning their attention to the summer,” said Andy Soloman, Yomdel Founder.

“The sun has finally started to shine, there is the Euro 2020 football tournament underway and Wimbledon just round the corner so it is natural that peoples’ attention is shifting away from being hunkered down inside under lockdown and the evidence we have is that in property and numerous other sectors website traffic, and consequently new enquiry volumes, are dropping,” said Andy Soloman, Yomdel founder.

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The YPST methodology establishes a base line average shown as 100% or 100, calculated according to average engagement values over the 62 weeks prior to the first national lockdown on 23 March 2020, and plots movements from there according to the volumes of people engaging in live chat, their stated needs, questions asked, and new business leads generated. Data is measured over full 24-hour periods.

New vendors rose 0.18%, or 0.23 points, to end the week on 125.82, some 26% above the average, 27% below the same week last year during the initial lockdown, and 21% above the equivalent week 2019.

Buyers dropped 6.47%, or 8.98 points, to close at 129.81, 30% above the pre-covid-19 average, 30% below the same week 2020 and 23% higher than the equivalent week 2019 before coronavirus hit.

Landlords recovered by 8.23%, or 7.04 points, to 92.59, some 7% below the average, 36% lower than the same week last year, and 3% below the same week 2019.

Tenants rose 8.40%, or 10.51 points, to close at 135.57 some 36% above the pre-covid-19 average, 21% lower than the same week last year, but 10% above the same week 2019.

By MARC DA SILVA

Source: Property Industry Eye

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Value of UK Mortgages Climbs 3.6% Between Q1 2020 and Q1 2021

The outstanding value of all residential mortgage loans in the UK stood 3.6 per cent higher at the end of Q1 2021 than at the same point the year before, according to new Bank of England figures.

The figures, released yesterday, also showed that the value of new mortgage commitments was 15 per cent higher than in the same quarter the year before.

However, the value of outstanding balances with some arrears increased by 5.1 per cent over the quarter to £15 billion, and now accounts for 0.96 per cent of outstanding mortgage balances.

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Commenting on the figures, Paul Stockwell, chief commercial offer at Gatehouse Bank, said: “Buyers’ insatiable appetite to move home has meant the value of new mortgages started the year at highs not seen since before the 2008/09 financial crash. There has been frenzied activity in the market with movers searching for larger homes and more outdoor space, while the extension of the stamp duty discount to the end of June added more fuel to the fire in the first quarter of this year.”

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He added: “The biggest stamp duty savings run out in just a few weeks’ time, yet measures from other housing indices suggest the frantic competition for property continues unabated. While lending may fall from these current highs, we still expect it to be an incredibly busy summer for the housing market.”

BY PETE CARVILL

Source: Property Wire

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BoE: Outstanding value of residential loans up 3.6%

The outstanding value of all residential mortgage loans was £1,561.8bn at the end of 2021 Q1, 3.6 % higher than a year earlier, according to the Bank of England’s (BoE) mortgage lending statistics.

The value of gross mortgage advances in 2021 Q1 was £83.3bn, 26.5% higher than in 2020 Q1, and the highest level since 2007 Q4, while the value of new mortgage commitments was 15% higher than a year earlier, at £77.5bn.

Meanwhile, the share of gross advances with interest rates less than 2% above bank rate was 59.1% in 2021 Q1, 13.3% lower than a year ago.

The share of mortgages advanced in 2021 Q1 with loan-to-value (LTV) ratios exceeding 90% was 1.1%, 4.1% lower than a year earlier, and the lowest level since these statistics began in 2007.

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The share for house purchase for owner occupation was noted at 64.1%, a rise of 17.3% on 2020 Q1.

The share of gross advances for remortgages for owner occupation was 18.0%, a decrease of 14.2% since 2020 Q1, and the lowest since these statistics began in 2007.

The value of outstanding balances with some arrears increased by 5.1% over the quarter to £15bn, and now accounts for 0.96% of outstanding mortgage balances.

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Paul Stockwell, chief commercial officer at Gatehouse Bank, said: “Buyers’ insatiable appetite to move home has meant the value of new mortgages started the year at highs not seen since before the 2008/09 financial crash.

“There has been frenzied activity in the market with movers searching for larger homes and more outdoor space, while the extension of the stamp duty discount to the end of June added more fuel to the fire in the first quarter of this year.

“The biggest stamp duty savings run out in just a few weeks’ time, yet measures from other housing indices suggest the frantic competition for property continues unabated.

“While lending may fall from these current highs, we still expect it to be an incredibly busy summer for the housing market.”

By Jake Carter

Source: Mortgage Introducer

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House purchase lending surged in Q1, according to UK Finance

House purchase lending surged in Q1, following the rush of applications submitted ahead of the original Stamp Duty Land Tax (SDLT) holiday deadline, according to the Q1 UK Finance Review.

Home mover activity was particularly strong, with anecdotal evidence of many homeowners using their substantial existing equity stakes to move to larger properties away from city centres in response to changing working and living patterns.

Refinancing continued to be dominated by internal product transfers; however, there is a continued trend of significant and growing amounts of equity withdrawn with other remortgages, in large part to fund additional property purchases.

UK Finance noted that payment deferrals and government support for jobs and incomes kept arrears increases in check in Q1 2021, while the ban on court actions meant there were no enforced possessions for the fourth consecutive quarter.

From Q2, as support schemes wind down and possessions resume, UK Finance said it is likely arrears will rise above their current level and, after a lag, possessions are expected to rise as well.

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Credit card borrowing fell due to additional national lockdowns and post-Christmas seasonality, but showed signs of recovery towards the end of the quarter, according to the review.

Eric Leenders, managing director of personal finance at UK Finance, said: “Since the housing market emerged from its shutdown last spring, we have seen a remarkable recovery in demand, which continued through Q1 2021.

“Existing homeowners have taken advantage of the stamp duty concessions, with changing working and living patterns encouraging more to use their existing equity, either to move further afield or to fund further housing purchases for themselves or family.

“Towards the end of the quarter, cautious optimism was also evident through modest increases in card spending and in unsecured borrowing.

“The continuing support network for household incomes and credit payments has prevented significant increases in arrears.

“As the country emerges from lockdown and these schemes come to a close, most will be able to resume normal payments.

“However, for those unable to do this, the industry stands ready to help with tailored support to best suit individual customers’ needs.”

John Eastgate, managing director of property finance at Shawbrook Bank, added: “A strong Q1 was inevitable.

“Minds should and will turn to the period beyond the artificial boom created by the stamp duty holiday.

“Notwithstanding some inflationary pressures, the cost of borrowing looks likely to stay low and with a fast recovering economy, the outlook for the property market remains robust.

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“That underpins buyer confidence which, combined with a likely long-term shift in commuter behaviours, has seen borrowers stretch themselves for that forever home with some green space and a different work-life balance.”

Jon Cooper, head of mortgage distribution, Aldermore, said: “Through successive lockdowns, we’ve seen an unprecedented reassessment by home owners of what they want from a home.

“The change in working and living situations over the past year and likely for the long-term has ignited demand to find property that fits people’s new working and family life, which has led to this house purchase lending surge in Q1.

“Mortgage lenders have thrived the past year through tremendous efforts to meet the adversity of the moment.

“We’ve seen some genuine long-term industry innovation through necessity of social distancing and maintained a steady stream of new business despite unstable conditions, alongside significant existing customer care and engagement.

“This collective work has put the market in a good place for recovery in the months going forward and, with pent-up demand, the stamp duty relief, and the reintroduction of products, we might even say we’re quietly optimistic for a busy second half to 2021.”

By Jake Carter

Source: Mortgage Introducer

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Housing market shows ‘no signs of cooling off’

Residential property prices look set to continue rising this year beyond the stamp duty holiday, as lifestyle changes continue to fuel market demand.

House prices increased by 10.9% annually in May, marking the strongest growth in almost seven years, according to Nationwide’s house price index.

The double-digit house price growth recorded last month followed a 7.1% annual rise in April, the figures show.

Across the UK, property values hit a new record average of £242,832 – up by £23,930 compared with 12 months earlier.

Sam Mitchell, CEO of online estate agent Strike, said: “Contrary to the British weather, the UK property market was red-hot in May and house prices showed no signs of cooling.

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“The fast approaching stamp duty holiday deadline has helped turn the market into a frenzy, but there are other factors at play here. A sense of normality is returning as restrictions lift and the vaccination roll out progresses, while we’ve also seen a major uplift in the 95% mortgage offering which has helped more first-time buyers come to the market.

“Many will be questioning if this level of demand will last once the stamp duty holiday begins to taper off, but let’s not forget that the UK is still faced with a major supply and demand imbalance issue. A lack of new stock, particularly houses with outside space and in rural locations, will continue to push prices up by being outweighed by demand. Plus, the Government may well have something else up its sleeve to support the market once the stamp duty holiday ends.”

Iain McKenzie, CEO of The Guild of Property Professionals, concurred: “At a time when much of the country seems to be enjoying a sense of normality once again, we would expect the property market to follow suit. But he says that the figures show that the market didn’t get the memo.”

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He added: “The frenzy to snap up a property at the tail end of a pandemic is showing no signs of stopping, with double digit growth in house prices throughout May – the highest we have seen in the best part of a decade.

“The success of the stamp duty holiday has certainly played its part, as well as the savings many have made while working from home.”

But Lucy Pendleton, head of James Pendleton estate agents, is among those that expects price growth to slow.

She said: “Such fierce appreciation is certainly attention grabbing, but when property hits double-digit growth like this, it’s normally a brief squint at the sun before falling back down to Earth.

“That will probably happen in July due to the effects of a two-month interruption of house price growth last year.”

By MARC DA SILVA

Source: Property Industry Eye

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HMRC: April resi transactions highest for that month since 2007

HMRC’s provisional non-seasonally adjusted estimate for UK residential transactions in April 2021 was 111,260, the highest total in April since 2007, when transactions were 126,450.
However, this is a drop from the March 2021 figure of 190,980.

Provisional non-seasonally adjusted UK residential transactions in April 2021 increased 197.8% year-on-year, but a substantial amount of this difference is due to the impacts of the COVID-19 pandemic on the April 2020 statistics.

In addition, the non-seasonally adjusted estimate of 392,170 for UK residential transactions during quarter one of 2021 was the highest Q1 total since the introduction of stamp duty statistics in their current format in 2005, and the highest quarterly total since Q2 2006 (419,270).

Due to the pandemic, quarter two of 2020 was the lowest quarterly total for UK residential transactions since Q1 2009.

Provisional estimates of UK residential transactions in April 2021 have shown an impact from the temporarily increased nil rate bands for stamp duty and and Land Transaction Tax (LTT).

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Following year-on-year decreases in April and May 2020 of around 50%, caused by the pandemic, non-seasonally adjusted UK residential transactions have gradually increased, peaking in March 2021 with a provisional estimate of 173,410.

For non-residential transactions, non-seasonally figures in April 2021 increased 94.4% year-on-year, but again this will largely be due to the effects of the pandemic on last year’s data.

Provisional estimates of UK non-residential transactions in April 2021, 10,520 non-seasonally adjusted and 10,160 seasonally adjusted, are similar to levels reported during April in recent years, excluding 2020.

Following yearly decreases in April and May 2020 of around 45% caused by economic effects around the pandemic, non-residential transactions have followed a generally increasing trend during subsequent months.

Joshua Elash said: “Transactions are significantly down from March due to a large number of purchases completing that month in anticipation of the stamp duty holiday expiring.

“It evidences how significant an impact the scheme is having on buyer appetite and confidence.

“April was always going to be softer in terms of number of transactions.

“The annual rebound has, however, been stunning.

“A year ago, the first lockdown bit into the property market hard, and this comeback is nothing short of astonishing.

“All in all, the data continues to support a growing argument that stamp duty should be abolished completely so as to continue to encourage transactions, upward mobility, and to support the economy.”

Mark Harris said: “April’s dip in transactions compared with March is likely to be at least partly due to the anticipated end of the stamp duty holiday, before its extension was announced, which resulted in buyers taking their foot off the gas to get deals done.

“Now that the holiday has been extended, activity has picked up again.

“Compared with April last year, when the housing market was closed to business thanks to the pandemic, there has been a massive 179.5% jump in transactions.

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“That reflects the grinding to a halt of the market, as well as the surge in demand created by COVID, with more people bringing forward moves to the country and a growing desire for more space, both inside and out.

“On the lending front, lenders have plenty of cash and are keen to lend.

“There are some very competitive products, and with Nationwide returning to 95% LTV mortgages at lower rates than its competitors, it is a good time to borrow.”

Jeremy Leaf, north London estate agent and a former RICS residential chairman, says: “Although these figures reflect many sales agreed several months ago, they show a reduction in activity as many buyers did not expect to still take advantage of the stamp duty holiday.

“However, activity has picked up strongly since the deadline was extended, allowing many to continue where they left off, as well as encourage new entrants to the market.

“Transactions are always a better measure of housing market strength than prices which tend to fluctuate.

“On the ground, supply is still a problem even though listings have improved as rollout of the second jab in particular is encouraging sellers to make their properties available.

“It is not only some sellers who are trying to profit from the home buying frenzy but certain solicitors are charging exorbitant fees to take on work, whereas others are working evenings and weekends to make sure they get over the line in time.”

By Jessica Bird

Source: Mortgage Introducer

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BoE: Mortgage borrowing up by record £11.8bn in March

Mortgage borrowing saw a net increase of £11.8bn in March, the strongest since the Bank of England started publishing mortgage approval data in April 1993.

Lenders approved 82,735 mortgages in March which was down by 5,000 on February’s figure.

Mark Harris says: ’The strength of the runaway housing market is being reflected in the mortgage data, with strong levels of borrowing in March.

“With homeowners borrowing an additional £11.8bn, taking net borrowing to its strongest level since the series began in 1993, those who are not moving are taking the opportunity to improve, with cheap mortgage rates helping them make this decision.

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“With the stamp duty holiday originally expected to end in March, this focused borrowers’ minds and helps explain the uplift in lending. Now that this has been extended we expect activity to continue to be brisk over coming months, particularly as mortgage rates are likely to remain low and with increased availability of high loan-to-value deals.

“The trend to save continues with households depositing an additional £16.2bn in March, despite savings rates at historically low levels. This is an encouraging trend although it will be interesting to see whether it continues to the same extent as lockdown eases further.”

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Richard Pike, sales and marketing director at Phoebus Software, added: “We’re getting used to seeing these types of figures for mortgage approvals. The stamp duty holiday lit the fire and will continue to drive the market until it comes to an end. It is good to see the housing market as buoyant as it is, but it’s also causing some consternation.

“House prices are being driven up, with estate agents reporting many buyers offering over the asking price to secure their preferred property. How sustainable this is, when lenders are tied by strict affordability guidelines, is debatable.

“If the housing market is helping to drive the nations’ recovery in an unsustainable manner, will we be generating problems further down the track? Even with 95% mortgages available again the chances for many younger people, trying to get onto the property ladder, are becoming fewer as prices spiral upwards. At the moment it looks like we’re creating an unlevel playing field, especially for first-time buyers.”

Source: Mortgage Introducer

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House prices up by greatest margin since 2004

House prices rose by 2.1% in April 2021, representing the greatest monthly increase since February 2004, according to the Nationwide house price index.

House prices have reached a new record average high of £238,831, up £15,916 over the past 12 months.

On an annual basis, house price growth rebounded to 7.1% in April, from 5.7% in March.

Nationwide suggested that annual growth in house prices could reach double digits in June if prices are flat over next two months.

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Robert Gardner, chief economist at Nationwide, said: “Just as expectations of the end of the stamp duty holiday led to a slowdown in house price growth in March, so the extension of the stamp duty holiday in the Budget prompted a reacceleration in April.

“However, our research suggests that while the stamp duty holiday is impacting the timing of housing transactions, for most people it is not the key motivating factor prompting them to move in the first place.

“For example, amongst homeowners surveyed at the end of April that were either moving home or considering a move, three quarters said this would have been the case even if the stamp duty holiday had not been extended.

“Housing market activity is likely to remain fairly buoyant over the next six months as a result of the stamp duty extension and additional support for the labour market included in the Budget, especially given continued low borrowing costs and with many people still motivated to move as a result of changing housing preferences in the wake of the pandemic.

“With the stock of homes on the market relatively constrained, there is scope for annual house price growth to accelerate further in the coming months, especially given the low base for comparison in early summer last year.”

Jeremy Leaf, north London estate agent and a former RICS residential chairman, added: “The bounce-back highlighted by the Nationwide figures, which we have also seen on the ground, should be sufficient to ensure there is no price correction when the stamp duty holiday starts to taper off at the end of June.

“Continuing shortage of stock, as well as the new government-backed 95% mortgage and furlough support, are providing further assistance for the market.

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“Broader rollout of the vaccine and easing of lockdown restrictions is increasing confidence in the economy.

“This economic recovery is giving an additional boost to housing market activity rather than the housing market supporting the economy, which was the case when the pandemic first struck.”

Tomer Aboody, director of MT Finance, said: “With continuous government support and stimulus, particularly the extension of stamp duty relief, house prices shot up in April.

“Added to this the growing availability of 95% mortgages, and money being cheaper to borrow than ever, it is hard to see what is going to stop the housing market in its tracks this year.

“What the end of the stimulus will bring, we are not certain yet, but with economic uncertainty on the horizon, this artificial bubble could slowly deflate. That is the best-case scenario.

“The biggest factor is the lack of properties to buy, which is creating and overwhelming the pursuit of houses with gardens, which in turn is pushing up pricing.

“Will the government look to modify the stamp duty for downsizers in order to release more properties onto the market?

“This, along with the changing social environment with more flats being built in the centre and city of London, means a big cultural shift in society is on the horizon.”

By Jake Carter

Source: Mortgage Introducer

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Stamp Duty Land Tax transactions in Q1 up 48% annually

The total number of Stamp Duty Land Tax (SDLT) transactions in Q1 2021 was up 48% annually, according to HMRC data.

On a quarterly basis, the number of transactions was up 1%.

The increase in transactions in the last three quarters has likely been impacted by the introduction of the SDLT holiday for residential properties, helping offset the decrease caused by COVID-19.

Residential property transactions in Q1 2021 were 2% higher than in Q4 2020, and 53% higher than in Q1 2020.

Non-residential property transactions in Q1 2021 were 7% lower than in Q4 2020, and 6% higher than in Q1 2020.

Total SDLT receipts in Q1 2021 were 8% lower than in Q4 2020 and total SDLT receipts in Q1 2021 were similar, up 1%, to those in Q1 2020.

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The change in receipts has mainly been caused by the introduction of the SDLT holiday.

Residential property receipts in Q1 2021 were similar, within 1%, to both Q4 2020 and Q1 2020.

Non-residential property receipts in Q1 2021 were 24% lower than in Q4 2020, but 4% higher than in Q1 2020.

Up to Q2 2020 there were 540,900 claims that have benefited from the relief, and the total amount relieved by these claims is £1,294m over the period.

An estimated total of 65,300 transactions were liable to HRAD in Q1 2021, with the 3% element generating £285m in receipts, an decrease of 16% from the previous quarter, and a fall of 15% compared to Q1 2020.

The percentage of residential receipts from HRAD transactions has dropped slightly by 3% to 46% when compared to both Q3 2020 and Q4 2020.

Vikki Jefferies, proposition director at PRIMIS Mortgage Network, said: “Today’s figures show a clear increase in Stamp Duty Land Tax transactions over the first quarter, underscoring the fact that the mortgage industry is continuing to recover from the impact of the COVID-19 crisis.

“There is no doubt that the Chancellor’s decision to extend the stamp duty tax break in his Budget announcement helped to fuel this activity by stimulating buyer appetite and boosting demand.

“As we approach the tapered extension of the stamp duty holiday, the priority for the mortgage market will be processing cases quickly and efficiently so that borrowers are able to benefit from the tax cut.

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“In order to achieve this, key players in the market, including lenders, advisers, distributors, housebuilders, surveyors and conveyancers should work collaboratively to ensure that clients are best supported during this period and that the application process is as smooth as possible for all involved.’’

Cloe Atkinson, managing director at Mortgage Engine, added: “Today’s figures show once again just how frenzied activity in the housing market is.

“The release of pent-up demand for property has been super-charged by the stamp duty holiday extension.

“The tax holiday has certainly been a success by any metric and current activity levels are further proof of the resilience of brokers, lenders and borrowers alike.

“Over the last year, the virus has forced the industry to re-shape the way consumers buy property and led to a great deal of adaption and innovation to overcome the difficult conditions caused by the pandemic.

“Technology has been important for all parties in transitioning to this new way of completing purchases and the industry has seen a large increase in the use of tech solutions, such as remote viewings and automated valuation models.

“As the UK looks forward to the return of some pre-pandemic normality, tech-driven solutions will continue to be a vital part of the success of the mortgage market.

“A lot of progress has been achieved in the last year when it comes to tech adoption, but the industry needs to be ambitious and continue to build upon this momentum to provide better outcomes for its consumers.”

By Jake Carter

Source: Mortgage Introducer

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Residential transactions show full steam ahead for housing market

The seasonally adjusted estimate of UK residential transactions in March 2021 was 190,980, 102.3% higher than March 2020, according to the latest HMRC Property Transaction data.

On a monthly basis, the figure rose by 32.2%.

The seasonally adjusted estimate of UK non-residential transactions in March 2021 was 12,530, up 53% year-on-year and 24.5% on February.

The HMRC data found that the non-seasonally adjusted estimate of UK residential transactions in March 2021 was 180,690, 107.9% higher than March 2020 and 49.6% higher than February 2021.

For UK non-residential transactions in March 2021, HMRC found the non-seasonally adjusted estimated was 14,160, 59.2% higher than March 2020 and 61.6% higher than February 2021.

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Dave Harris, chief executive of more2life, said: “Today’s findings demonstrate the resilience of the UK housing market.

“Some of the activity in March will no doubt have been fuelled by the ‘race for space’ as homebuyers increasingly prioritise home offices and gardens over the convenience of access to the city centre, but the Chancellor’s extension of the stamp duty holiday will have fuelled buyer appetite as well.

“The reduction in stamp duty has also prompted older borrowers to release the equity in their homes to move to a new house or to purchase a second property.

“At more2life, we have seen the proportion of over-55s using equity release to fund property purchases triple from 5% to 15% in recent months, showing just how essential the Chancellor’s tax break has been in funding people’s ambitions and lifestyle changes during the pandemic.

“We expect this trend to continue in the months running up to the end of the holiday and encourage equity release lenders and advisers to work together when processing cases in order to meet growing consumer demand as efficiently as possible.”

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, added: “These figures show that it’s still full steam ahead for brokers and the property market.

“It’s clear that the extension of the stamp duty holiday has added fuel to keep the train moving in March, and it’s on track for a great April too with plenty of demand across the board.

“This of course means that brokers have been, and will be, very busy supporting their clients, so it’s a good idea to look for ways to stay on top of things.

“Our web chat tool, for example, is a great way for brokers to get answers to policy queries fast – our team can usually respond within a minute.”

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Cloe Atkinson, managing director at Mortgage Engine, said: “March’s data shows there’s still a healthy level of activity in the market, reflecting the high levels of demand from buyers, boosted by the extension of the stamp duty holiday.

“The figures are further proof that the housing market has adapted well to operating efficiently during the pandemic.

“Brokers, lenders, and borrowers have learned how to successfully navigate the difficult conditions caused by lockdown restrictions.

“Tech-driven solutions have been a vital part of this success, allowing many parts of the housebuying process to be completed entirely remotely.

“As pandemic restrictions in England begin to ease, it’s vital that the industry doesn’t lose sight of the benefits these tech solutions can bring.

“While many people are dreaming about a return to the normality of life pre-pandemic, the mortgage industry should be more ambitious.

“As the post-pandemic recovery begins, the industry should focus on building upon the tech adoption of the last year and innovating further to ultimately provide better outcomes for all involved.”

By Jake Carter

Source: Mortgage Introducer

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