Research by Lomond has found that many buyers are eager to complete purchases by 31st March next year, before current Stamp Duty relief thresholds end on 1st April 2024.
The survey showed that 93% of homebuyers hoped to finalise their purchase by the deadline.
Of these, 82% intended to continue their search up to Christmas, and 74% were willing to keep looking between Christmas and New Year.
Many buyers were searching online, attending viewings, making offers, negotiating deals, and progressing sales through solicitors, with some even ready to move house if necessary.
The hope of saving on Stamp Duty was a strong motivator, with 71% saying that without the urgency from the looming deadline, they would have delayed their plans until the New Year.
Ed Phillips, chief executive officer at 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.
“As a result, we’re not only in for a very busy end to 2024, but 2025 looks set to bring much of the same.
“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.”
