House hunting is set to keep going during the festive break and that the traditional Xmas downing of tools will not materialise, it has been claimed.

Research from recenty-sold estate agency giant Lomond shows that the looming deadline for Stamp Duty relief is set to encourage potential buyers to continue their search during the festive period.

Its house hunting survey found that 93% were hopeful of completing their planned purchase by 31 March next year, with current Stamp Duty relief thresholds expiring the next day.

Meet the deadline

To meet this deadline, 82% plan to keep house hunting right up to Christmas Day, and 74% are prepared to carry on their search between Christmas and New Year.

Some people are prepared to attend viewings, make offers and negotiate, progressing the sale via solicitors and even moving house if needed.

It’s clear that the hope of a Stamp Duty saving is driving buyer intent, with 71% also saying that if an extension had been granted in the Autumn Budget, they wouldn’t be showing the same urgency.

The ‘nil rate’ Stamp Duty band for those house hunting will drop from £250,000 back to £125,000 from April. And for first-time buyers, the threshold will decrease from £425,000 to £300,000.

Many are prepared to pursue their plans to purchase right up to, and over, the Christmas period.”

Ed Phillips, CEO at Lomond, says: “The Stamp Duty Land Tax adjustments approaching in March 2025 are proving to be significant motivators for house hunters in the market as we close out the year.

“So much so that many are prepared to pursue their plans to purchase right up to, and over, the Christmas period,” he says.

“As a result, we’re not only in for a very busy end to 2024, but 2025 looks set to bring much of the same.”

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