UK Estate Agencies’ phones ringing off the hook as stamp duty holiday kicks in

Property portals and agencies see activity take off

Following the UK Chancellor Rishi Sunak’s recent announcement of a Stamp Duty (property tax) holiday for the real estate market, portals and estate agencies are seeing enquiries and leads rise rapidly, as significant tax cuts take effect from July 8th.

The Rightmove search website said it’d had its busiest ever day on Wednesday – the day after the announcement was made, claiming 8.5 million hits while the number of enquiries flowing through to estate agents represented a 93% increase on the day before.

Rival site Zoopla reported a 29% increase in visits compared with the average for the previous 28 days, with agencies reporting inbound leads increasing over 25%, practically overnight.

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