A month on from a record-breaking June, the impact of the stamp duty holiday is still with us. July saw fewer exchanges, as sales which under normal conditions would have occurred this month were pushed forward into June. The difference between June and July was most stark at the lower end of the market, with the volume of sales under £1 million experiencing the highest annual fall in July. In contrast, the top end of the market (above £5 million) saw more sales this year than last, implying that buyers at this level appeared less inclined to be a part of the conveyancing scrum leading up to 30 June.

 

Prime London Market Update - August 2021