According to the Q2 2021 review by UK Finance, 124,520 homes were purchased in June 2012, which is the highest monthly figure since records began in 2005. The data suggests the stamp duty land tax holiday has had a positive effect on the market in terms of demand and purchase activity. In London, there has been a 300% rise in homeowner purchases between Q2 2020 and Q2 2021.
In the first two quarters of 2021, house purchases across the country either returned to or exceeded pre-pandemic figures. UK Finance have commented that it is “unlikely that this level of lending will be sustained in the medium to long term”, therefore it’s possible a lot of help to buy schemes created during the pandemic are likely to come to an end in the coming months.
Heading into Q3, with the summer holiday period coming to an end, statistics show there is higher demand than before the pandemic. With many still working from home or furloughed, another seismic shift in the market could take place once more workers return to the office.
If you are a first-time buyer, investor or developer in need of mortgage advice or seeking to raise capital from an existing portfolio, please feel free to contact the CPRA mortgage team on 020 7770 8000 or email firstname.lastname@example.org. We specialize in high value and complex mortgages for either residential property or commercial investments.