There was a sharp increase in sales agreed during March, following the chancellor’s extension to the stamp duty holiday, according to the latest index from the Royal Institution of Chartered Surveyors.
A net balance of +50 per cent of the surveyors questioned reported an increase in sales, which is the strongest reading since August last year.
Respondents are anticipating sales activity will continue to rise over the coming three months, with a net balance of +35 per cent forecasting increases, the most upbeat reading since January 2020.
New buyer enquiries also surged, with a balance of +42 per cent of respondents recording an increase compared to 0 per cent the previous month.
This was the strongest figure since September 2020.
But the pace of new instructions did not match the jump in interest from buyers, leading to a gap between supply and demand and rising prices.
A net balance of
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