Confidence in UK housing market at four-year high, say estate agents

Pandemic-driven stamp duty cuts and lockdown has increased demand for homes with gardens

Stamp duty cuts, coupled with increased demand for homes with gardens since the pandemic, has driven confidence in the housing market to a four-year high, according to surveyors and estate agents.

A net balance of 44% of members of the Royal Institute of Chartered Surveyors (Rics) reported an increase in prices, the strongest reading since 2016, according to its latest monthly snapshot. This compares with 13% in July and marks a dramatic turnaround from the -33% registered in May. Virtually all parts of the UK are now seeing prices increase. The only exception is London, where Rics members reported that prices have remained more or less flat over the past two months.

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