Stamp duty holiday spurs 88% increase in sales in East of England

Sharman Quinney, an estate agency network with 20 branches across Cambridgeshire, Lincolnshire, Northamptonshire and Rutland, saw an 88% increase in sales in August year-on-year.

Almost nine out of 10 of the transactions are subject to no stamp duty, owing to the holiday.

Mike Sharman, Sharman Quinney managing director, said: “Whilst trading was expected to return to a certain degree following lockdown, the level of activity and the results remain outstanding throughout the Sharman Quinney Group network.

“The residential sales market is basking in the stamp duty holiday. Fuelled by record levels of new buyers entering the market, we are experiencing an underestimated yet unique time in the UK property market.”