The level of demand for properties is at a 12 year high, according to the National Association of Estate Agents. The housing market has been buoyed by the upcoming deadline for a stamp duty surcharge to be payable on the purchase of an additional home.
I do not believe that the number of purchasers will drop dramatically as a result of the new stamp duty rules and expect the demand to remain high. The bigger challenge could be the number of new properties that need to come onto the market to service the demand.
The added pressure on the housing market caused by the impending buy-to-let stamp duty surcharge pushed the number of registered house hunters per estate agent to it's highest level in 12 years. According to the National Association of Estate Agents (NAEA), there were an average 463 house hunters registered per member branch in February – the highest since August 2004 when 582 were registered per branch. This is following an increase in January when estate agents reported 453 per branch, the highest since July 2015.