Britain’s housing market is enjoying a post-lockdown mini-boom fuelled by this month’s stamp duty cut, pushing asking prices to a record high, according to the property website Rightmove.

With homes throughout Britain finally able to come to market again, some estate agents are reporting that buyer inquiries “are through the roof”, with property deals going to sealed bids, as a combination of pent-up demand being released, homeowners rethinking their lifestyles and the stamp duty giveaway come together to create a surge in activity.

“Britain is getting moving again,” said Rightmove. Its latest figures show that the average price of a property coming on to the market in Britain reached £320,265 this month – the highest figure since the site started its report in 2001. This was up 2.4%, or more than £7,000, on the previous record of £312,625 reported in March, just before the housing market was put on hold.

However, the increase in London since March was a lot lower – 0.5% – which may reflect reports that some potential homebuyers are plotting a move away from the capital to a smaller town or rural area as they rethink their priorities in the wake of the coronavirus pandemic.

Overall, inquiries from potential buyers were up 75% year on year in Britain, according to the website, which said it expected this activity would increase even further, as Scotland’s market had not yet been open for a full month, and Wales still had some restrictions in place.

 
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