Anyone hoping that the housing market will calm down once the current Stamp Duty holiday fully comes to an end on October 31st may be in for a disappointment.
Estate Agents are reporting no obvious market correction in house prices. According to The Resolution Foundation, it failed in its intention of stimulating the housing market to save jobs.
That market is very stimulated already by a combination of low interest rates and covid-related lifestyle changes, and the treasury lost out on about £4.4bn of taxes in England and Northern Ireland as a result. It’s hard to see how this won’t result in growing housing rental costs.