With the benefit of hindsight, the stamp duty holiday was not necessary to get the housing market moving again. And the end of the holiday in March will insert a cliff edge in demand at the exact moment we expect employment and incomes to be suffering most. If it is not extended, that’s another reason to think the surge in transactions and prices this year will be reversed in 2021.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services