Stamp Duty Deadline Drives Surge in Market Activity

As anticipated, the approach of the 31st March stamp duty deadline injected fresh momentum into the housing market. The latest data from HMRC confirms a notable rise in activity, with February 2025 recording a seasonally adjusted 108,250 residential transactions across the UK — a 28% increase compared to February last year and 13% higher than January. It marks the busiest February since 2022.

This pattern reflects a familiar rhythm, one we have observed many times over the years — where fiscal deadlines prompt decisive movement from buyers and sellers alike.

Rightmove is forecasting 1.15 million completed transactions this year, with approximately 575,000 homes currently progressing through the legal stages in an effort to benefit from the temporary stamp duty relief.

However, not all will have crossed the threshold in time. Around 74,000 transactions, including roughly 25,000 first-time buyers, are now expected to complete in April. These delayed completions are likely to generate an additional £142 million in stamp duty, according to Rightmove’s estimates.

In Harrow and across the wider North London market, we continue to see evidence of the property sector’s resilience. Buyers remain motivated, sellers are prepared to act, and demand is underpinned by both necessity and opportunity.

While headline figures provide a helpful snapshot, it is the detail behind the numbers that matters. As ever, timing, preparation, and experienced guidance are essential in navigating these pivotal points in the market cycle.

If you are considering a move or would like a clearer picture of how these changes may affect your plans, our team in Harrow would be pleased to assist.