Belvoir Group has predicted that the ongoing sales boom in the UK will endure past the end of the stamp duty holiday at the end of September and keep going throughout the year.

This follows a bumper first four months for the franchised sales and lettings company, including for its financial services division. 

“We have not seen activity in the residential property market at this level since early 2007,” says CEO Dorian Gonsalves (pictured).

“Even after a busy start to the year for completions, pipelines of agreed house sales are still almost double those of this time last year.”

Income from franchisee’s sales activities rose by staggering 81% on the same period in 2020 while lettings increased by a more modest 12%.

The news should keep shareholders happy, who are meeting today for its AGM.

“Trading during the four months to 30 April 2021 was exceptionally strong and materially ahead of management’s expectations, with substantial revenue growth across all three markets,” it says.

Belvoir expects the current boom to continue at least until the end of June at which point the stamp duty discount is reduced by 50% and ‘probably’ through to the end of September when it ceases entirely.

“In such unusual times, it is difficult to predict what might happen thereafter, but it is quite possible that the pent-up demand will not all be met in that timescale, and the tapered approach to the tax break will avoid a cliff-edge, such that the property market remains busy for most of the year.”