The Sunday Times
How will the stamp duty holiday affect the housing market?
We’re not going on a summer holiday, but — as Cliff Richard didn’t sing — at least we’re getting one on stamp duty. Will that boost a recovery in the housing market?

We’re not going on a summer holiday, but — as Cliff Richard didn’t sing — at least we’re getting one on stamp duty. Will that boost a recovery in the housing market?
Bargain hunters have arrived in London’s luxury new-build property market in the wake of the coronavirus pandemic.
The Covid-19 pandemic has affected lives in many ways, and talk of property markets may seem inconsequential in comparison to some of these.
A release of demand for property in England, suppressed by the lockdown, pushed the number of sales agreed in early June above pre-coronavirus levels.
International investors make up a big chunk of Britain’s second home market, especially in London. Many of these investors hail from the Far East, but how is this Asian demand for property holding up during the coronavirus crisis?
Analysts disagree on how much UK house prices will fall due to the coronavirus outbreak and subsequent market freeze, but the consensus is that they will take a hit.
The spread of the coronavirus (COVID-19) throughout the country has resulted in an almost complete standstill of the housing market as buying and selling property has effectively been put on ice.
Stamp duty has become the UK government’s “fiscal weapon of choice” in the housing market but calls for a full-scale overhaul of the property tax are growing as new surcharges and reliefs spark criticism of an increasingly unwieldy regime.
Typically, after the Christmas break, the housing market in London is “an absolute desert,” says Simon Barry of Harrods Estates. This year is a different story, he says.
Less than 24 hours after the Conservative party victory in December’s general election, interest in south London’s prime property market was already picking up.
The sheer drama of driving – let alone parking – in cities, along with a bigger push to be healthy and walk or cycle instead, is seeing super-rich buyers increasingly willing to forego off-street parking spaces with their multi-million pound mansions.
Pssst… are you “off-market”? No, I don’t mean married — is your house on a secret list of properties for sale?