Countrywide brand John D Wood reports record-breaking June

Firm's MD says exchanges and sales agreed have been jaw-dropping as the stamp duty holiday has worked its home moving magic.

estate agency

Leading Countrywide estate agency John D Wood says it exchange more properties last month than any other June going back ten years.

Also, the company says the number of properties sold was greater than all the months of June put together during the preceding three years.

It highlights the key reason why it has seen such extraordinary results – Chancellor Rishi Sunak’s stamp duty holiday ushered in during July 2020 and, from last, due to taper away in steps and end in September.

But this tax break, which only includes the first £500,000 in any property’s purchase value, has had “no noteworthy effect on the more expensive postcodes” where the SDLT savings are much less likely to be a key reason for buying a property, the estate agency says.

John D Wood has had a good pandemic, having previously reported its best trading results for five years during 2020.

Stamp duty

duffyIts Managing Director Polly Ogden Duffy, who recently featured in our Women in Property Power List, says: “Our new sales agreed are still 25% higher than the same period in 2019 – and despite the knowledge that the stamp duty deadline wouldn’t be met for these home movers this indicates the strength of the market, at least in the short term.”

“A combination of property prices on the rise and pent-up demand accumulated throughout the pandemic suggests that the domestic market remains confident and still highly competitive.

“Once the travel corridors truly re-open, the impact of the international buyer is really the one to watch.”

Visit John D Wood.

What's your opinion?

Back to top button