---
title: "Property Market Sees Surge As Stamp Duty Deadline Approaches"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2025-02-18T05:32:26+00:00"
modified: "2025-02-18T05:32:26+00:00"
date: 2025-02-18
canonical: "https://stockmark.it/property-market-sees-surge-as-stamp-duty-deadline-approaches/"
category: "Housing"
categories: ["Housing", "Mortgage", "Property"]
format: "news"
language: "en-GB"
---

# Property Market Sees Surge As Stamp Duty Deadline Approaches

**Published:** February 18, 2025
**Author:** Stockmark.IT Website
**Categories:** Housing, Mortgage, Property

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The British property market has witnessed a significant uptick in sales as buyers scramble to complete transactions before an imminent stamp duty increase. Data from Rightmove reveals property sales agreements in January rose 15 per cent above recent trends, whilst demand climbed 8 per cent higher than usual levels.

The looming tax changes have spurred intense market activity, with new property listings surging by 13 per cent. First-time buyers currently enjoying a stamp duty exemption on properties up to £425,000 face a reduced threshold of £300,000 from April, driving the rush to complete purchases.

House prices have shown modest growth, with the average price of newly listed properties increasing by £1,805 to £367,994 – a rise of 0.5 per cent. The restrained price growth reflects heightened market supply, as estate agents report the highest number of new properties per agent in a decade.

Mortgage applications through Rightmove have reached record levels, soaring 49 per cent year-on-year. The Bank of England’s recent interest rate cut to 4.5 per cent has prompted major lenders, including Santander, Barclays, Lloyds Bank and Yorkshire Building Society, to reduce their mortgage rates.

Market indicators from Nationwide and Halifax support these trends, reporting January price increases of 0.1 per cent and 0.7 per cent respectively. Despite previous concerns about potential price drops due to rising interest rates, robust wage growth and low unemployment have maintained market stability.

The average interest rate on new mortgages has fallen to its lowest level since April 2023, suggesting a positive outlook for property market activity as the Bank of England signals potential further rate cuts throughout the year.

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