Savvy house hunters have been flocking to auction during the Stamp duty holiday resulting in online residential property auctioneer, iamsold, selling a total of £196,332,348 worth of property - 24% more than the previous summer and 54% more than 2019.
Jamie Cooke, Managing Director of iamsold said: “The Stamp Duty Holiday, alongside other shifting consumer behaviour, saw a whole-market boom, and auction was no different. The added pressure of completing before a certain time has meant that more people have been looking to reduce the time it takes to complete.”
For buyers looking to make the most of the Government’s temporary tax holiday, the Modern Method of Auction (MMoA) has offered speed of completion, with our fixed 56 day timescales and much-needed security in this fast-moving market.
Jamie continued: “Whilst the Stamp Duty Holiday may come to an end, the speed and security offered by MMoA will continue to be a key motivation for buyers and sellers. Alongside this, we’ve seen a shift in behaviour that pre-dates the Stamp Duty Holiday. We believe that; alongside speed, additional benefits such as a digital-first approach, built-in transparency with detailed Auction Packs as standard and a 95 per cent completion rate will continue to sustain the success we’ve seen.