The property market soared in 2021, as buyers rushed to take advantage of the government’s temporary cut to stamp duty.
The stamp duty holiday meant buyers in England and Northern Ireland could save up to £15,000 in tax if they bought a home before the end of June, or up to £2,500 if they bought before the end of September.
The number of property purchases peaked around these deadlines, but the number of sales each month is now much closer to pre-pandemic levels. Data from HMRC shows around 95,000 transactions went through in June 2022.