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An extra 300,000 house sales could beat the new June stamp duty holiday deadline, according to forecasts by property website Rightmove.

A dash for detached homes and the hunt for more space in lockdown helped send the average house price in the UK up £20,000 in 2020, official figures revealed. House prices increased by 8.5 per cent in 2020, reaching a record high of £252,000, aided by lockdown buyers looking for bigger homes and the stamp duty holiday launched in July.  The annual level of growth was the highest Britain has seen since October 2014, according to new data published by the Office for National Statistics, but the market is now predicted to cool off unless an extension to the stamp duty holiday due to end next...

Stamp duty holiday costs government more than £500m in lost taxes House hunters are concerned their purchases will not complete before the stamp duty holiday deadline of 31 March The government lost out on more than half a billion pounds in taxes due to the stamp duty holiday, according to the latest figures. Data from HM Revenue and Customs (HMRC) showed that overall stamp duty land tax receipts fell 16 per cent to £2.76bn in the fourth quarter of last year, compared to £3.29bn in 2019.  In July, the chancellor increased the nil rate band for stamp duty to £500,000. Ris...

Stamp duty transactions increase as buyers take advantage of ‘holiday’ Stamp duty transactions soared by 43% in the fourth quarter of 2020 and were also significantly higher than the same period in 2019. The impact of the stamp duty holiday is being credited by HMRC as the reason behind this surge in stamp duty land tax (SDLT) in Q4. Its figures show transactions between October and December were 43% higher than between July and September and 14% higher than in Q4 2019. What’s more residential property transactions in Q4 of 2020 were 44% higher than Q3 and 16% higher than in Q4 of 2019....

House sales jumped by a third in December with 129,400 house sales recorded, marking the strongest end of year for a decade. It comes as the average UK price of a home rose to £249,633.