Highest level of sales in January in 14 years

An estimated 121,640 transactions completed in January, the highest January total since 2007 and a 24.1% increase on 2020, as the surge in property sales continues. Excluding 2020, current monthly sales volumes are 21% above the 5-year and 32% above the 10-year average, with predictions that up to 1.3 million sales may complete this year. With many fearing a cliff edge, the Chancellor looks set to announce in the 3 March budget an extension to the Stamp Duty Holiday to the end of June. Rightmove estimates up to 100,000 buyers could miss the current 31 March deadline, although research suggests 7 in 8 buyers would still continue with their purchase.