Richard Pike, sales and marketing director at Phoebus Software comments on the data released from the HMRC:

“The health of the housing market continued in August which considering that the stamp duty holiday was only announced in July, is more than likely due to a large number of transactions, that were put on hold, finally completing.

“Over the next couple of months, as the rush to market really kicks in it is likely that these numbers will continue to increase. However, with conveyancers already reporting that workload is slowing completion times there could well be a lag.

“Of course, there is also the imminent announcement of further measures to slow the spread of coronavirus, which will almost definitely have an effect in the longer term.”