LONDON (CU)_In June this year, the number of homes that changed hands in the United Kingdom surged to the highest level on record, with 213,120 sales registered with HM Revenue and Customs. This sudden boom in activity can be attributed to the stamp duty holiday introduced by the government on property purchased in England and Northern Ireland. In July last year, chancellor Rishi Sunak decided to raise the level at which tax on property purchases to be paid from £125,000 to £500,000, with the aim of warding off a collapse in the housing market amid the COVID-19 pandemic. Although this figure was expected to be brought down to £250,000 by the 31 March, it was later extended to the end of June.
Therefore, buyers raced against the clock to beat the…
