'Phones ringing off the hook' at estate agents after stamp duty cut

Record traffic on property websites as buyers and sellers hope to make most of tax break

• Stamp duty: what is it and what has the chancellor changed?

Estate agents have reported “phones ringing off the hook” and record traffic to their websites after the chancellor’s announcement of a stamp duty holiday on property sales up to £500,000 in England and Northern Ireland.

Wednesday’s summer statement prompted a flurry of activity from buyers and sellers keen to make the most of the tax break.

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