Research by the estate agent comparison site, GetAgent.co.uk, has shown which parts of the property market are feeling the most stamp duty holiday heat when it comes to transaction levels and sold prices.
GetAgent analysed Land Registry sold price records since the initiative was launched on the 8th July last year to reveal the top 20 areas with the most homes sold, as well as the top 20 where the average sold price is concerned.
The figures show that 590,200 transactions have taken place across England with an average sold price of £268,500.
The South East has been by far the hottest region from a transaction standpoint, with 107,919 property sales completing to date, with the North West (79,222) and East of England (70,893) also putting in an impressive performance.
At district level, it’s Leeds that is leading the way. There have been 8,580 transactions across Leeds since the launch of the stamp duty holiday, with Birmingham (8,269) and Cornwall (7,328) also ranking within the top three.
The top 20 also includes areas such as Buckinghamshire, County Durham, Dorset, Bradford, Bristol, Liverpool, Manchester and Bromley. However, 85% of districts in England have seen 1,000 homes or more sold since 8th July 2020.
In terms of the highest sold prices since the launch of the stamp duty holiday, London predictably ranks top with an average of £500,000.
Hardly surprising, then, that London also accounts for 17 of the top 20 most expensive property markets in terms of the average price of homes sold.
Elmbridge (£625,000), St Albans (£585,000) and Mole Valley (£565,000) are the only areas outside of the capital to make the top 20, with Kensington and Chelsea (£1.2m), Westminster (£875k) and Hammersmith and Fulham (£765k) home to the highest house prices in England since the launch of the holiday.
Founder and CEO of GetAgent.co.uk, Colby Short, commented: “We’re used to seeing London dominate where property prices are concerned and despite the region seeing the lowest increase in house prices over the last year, it continues to lead in terms of the highest sold prices achieved.
However, the wider impact of the stamp duty holiday has been a huge boost in transaction levels and this has been felt pretty much across the board with more than 85% of the nation seeing at least 1,000 homes sold since July of last year.”