The latest data and analysis from HMRC has revealed that, between May and June this year, residential property transactions climbed to 63,250 – a rise of 31.7%.

However, largely due to the pandemic, this figure is still 35.9% lower than the same period a year earlier.

On a non-seasonally adjusted basis, the number of residential transactions in June totalled 68,670, 31.5% lower than June 2019.

Anna Clare Harper, author of Strategic Property Investing, says: “The context of the recent change to stamp duty is making waves through the housing market. The quick implementation and temporary nature of the change, combined with pent-up demand in the housing market, has for obvious reasons resulted in an increase in transactions.

“As with health-related statistics on Covid-19, it;s important not to take the data out of context when looking to the future. It is hardly surprising that the stamp duty change has resulted in a bounce in transactions. However, it is worth noting that this does not give an accurate guide to future trends or any guarantee as to what will happen going forward.”

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