The cost of moving home has fallen by almost 40% from 10,911 before the stamp duty holiday came into effect in July to £6,669 after, saving the average homebuyer and seller £4,242 according to reallymoving’s annual Cost of Moving research.

UK house prices will rise by 2% in 2020 before staying flat in 2021, Hamptons International has predicted. House prices are expected to see the biggest increase in Wales (3.0%), followed by London (2.5%), Yorkshire & the Humber (2.5%), and the North West (2.5%).

Approximately one in eight (13%) of properties sold for more than the original asking price in August, the highest level recorded since November 2015, according to NAEA Propertymark’s August Housing Report.

The Chancellor, Rishi Sunak recognised the key part the housing sector would play in supporting the UK’s economic recovery and announced a temporary discount to England and Northern Ireland’s Stamp Duty Land Tax (SDLT) by increasing the tax threshold from £125k to £500k on a homebuyer’s main residence with immediate effect.