HMRC has reported that there were 198,240 seasonally-adjusted residential transactions last month within the property market compared to an average of 100,000.
It also says that its non-seasonally adjusted property transactions figure for June of 213,000 is the highest it has ever recorded for any month since it began collecting statistics in 2005.
Anthony Codling of Twindig says: “As the mercury rises across the UK, the housing market is also heating up as housing transactions hit a new high thousands rushed to beat the 30 June Stamp Duty Holiday deadline.
“The data from the HMRC is provisional, but is the highest monthly figure on record, beating all previous stamp duty holiday spikes.
“Transactions in June were 8% ahead of the March stamp duty stampede and were 74% up on May.”
Iain McKenzie, CEO of The Guild of Property Professionals, says: “Much of last month’s rise is due to the last-minute scramble to make the most of the stamp duty holiday, but the holiday hasn’t fully wound down yet, and we could still see a boom in areas with housing priced under £250,000.”
Sam Mitchell, CEO of online estate agent Strike, says: “June saw the property market turn to a frenzy, with homeowners scrambling to complete and exchange in time for the end of the stamp duty holiday.
“There may be no further extension this time, but let’s not forget the tapering off period is still in place until the end of September, meaning properties valued under £250,000 still benefit from the relief.”