2010 began quite positively for the housing market; valuations on residential property carried out last month were 9% higher than the previous year, despite the removal of the stamp duty holiday.
December and January are traditionally quiet months in the housing market, December was a hub of activity due to transactions trying to complete before the withdrawal of the higher stamp duty threshold. This upward trend continued into January.
During the downturn, many homeowners who wanted to move delayed their purchase decisions. As confidence continues to come back to the housing market, this is translated into much higher levels of activity among existing homeowners and buy-to-let investors.
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