The majority of homebuyers are planning to house hunt throughout the Christmas period in hopes of beating the spring stamp duty relief deadline, analysis from Lomond shows.

Some 93% of house hunters are hopeful of completing their purchase by 31 March 2025, after which the nil rate will drop from £250,000 to £125,000, and for first-time buyers from £425,000 to £300,000.

Such is their hope, 82% plan to keep house hunting right up to Christmas, with 74% also prepared to carry on their search between Christmas and New Year.

Ed Phillips, chief executive of Lomond, said: “The stamp duty land tax adjustments approaching in March 2025 are proving to be significant motivators for house hunters in the market as we close out the year. .

“So much so that many are prepared to pursue their plans to purchase right up to, and over, the Christmas period.

“For those looking to sell, now is certainly the time to do so in order to take advantage of the influx of motivated buyers looking to make their move by spring.”

Potential buyers are mostly prepared to search online listings for potential properties ranked top, followed by attending viewings, making offers and negotiating, progressing the sale via their solicitors and even moving house if needed.

Three quarters (71%) state that had a stamp duty extension been granted during the recent Autumn Budget, they wouldn’t be showing the same urgency and would have now put their plans to purchase on hold until the New Year.

Via @PropertyWire