Across England and Wales as a whole, an estimated 355,827 sales have completed so far this year. Barrows and Forrester highlight how influential the stamp duty holiday seems to have been in shaping property market activity since January.
The Birmingham based estate and lettings agent analysed property market transactions across every county of England and Wales since the start of the year, looking at which property price threshold had been the most active and found that 43% of the total sales have completed for a price within the £250,000 price threshold, the price at which the final extension of the stamp duty holiday saw home buyers pay no stamp duty up until as recently as last month.
A further 40% of all homes sold so far this year have done so between the £250,001 and £500,000 price threshold.
Just 11% have sold for between £501,001 and £750,000, while the £750,001+ price threshold accounts for just 6% of all transactions. When analysing the market at a county level, the £250,000 price threshold was the most active area of the market across 44 counties, with a further 25 seeing the most sales complete between £250,0001 and £500,000.
Interestingly, no county saw the most market activity between £500,001 and £750,000, while just the City of London was home to the most active market at the £750,000+ price threshold.
James Forrester, Managing Director of Barrows and Forrester, commented: “While there is always likely to be a larger number of sales at lower price threshold simply due to the affordability of property, It’s clear that the stamp duty holiday has been hugely influential and has shaped the face of the market during the pandemic.
"We’ve seen the largest levels of market activity fall within the price bracket at which there remained a saving for the most prolonged period and in many areas, the gap in activity at this level of the market and the rest has been vast.”