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Commentary: Nationwide HPI figures continue to be propped up by Stamp Duty holiday

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We give market commentary when journalists or news outlets approach us directly for comment on specific topics. We share our commentary here too. See below.

Having seen a decline in the rate of growth leading upto the original deadline, it seems the property market has managed to sidestep the stamp duty cliff edge for now, with an extension resulting in yet another sharp jump in property prices.

Nationwide House Price Index - April 2021

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Having seen a decline in the rate of growth leading up to the original deadline, it seems the property market has managed to sidestep the stamp duty cliff edge for now, with a "stamp duty holiday" extension resulting in yet another sharp jump in property prices.

However, it’s now clear just how influential it has been in boosting market health over the last year or so, meaning that when the clock does finally expire there’s no doubt we will feel the impact. This will likely come in the form of a dramatic reduction in transaction levels, followed a few months later by a sharp dip in the rate of house price growth.

"

Having seen a decline in the rate of growth leading up to the original deadline, it seems the property market has managed to sidestep the stamp duty cliff edge for now, with a "stamp duty holiday" extension resulting in yet another sharp jump in property prices.

However, it’s now clear just how influential it has been in boosting market health over the last year or so, meaning that when the clock does finally expire there’s no doubt we will feel the impact. This will likely come in the form of a dramatic reduction in transaction levels, followed a few months later by a sharp dip in the rate of house price growth.

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