Number of properties selling within a week of hitting the market reaches ...

Home sales soar by 125%: Boom for housing market as the number of properties selling within a week of hitting the market reaches highest level for a DECADE Rishi Sunak's decision to scrap the levy on properties worth up to £500,000 Rightmove more than 200,000 properties advertised on its website that sold One in seven were snapped up within a week of being put on the market in July 

By James Salmon Associate City Editor For The Daily Mail

Published: 00:00 BST, 4 September 2020 | Updated: 00:02 BST, 4 September 2020

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The number of homes sold within a week of hitting the market has reached the highest in a decade as buyers rush to take advantage of the stamp duty holiday.

The Chancellor’s decision to scrap the levy on properties worth up to £500,000 has helped to fire up the housing market, according to Rightmove.

It analysed more than 200,000 properties advertised on its website that sold between July 8 – when Rishi Sunak announced the stamp duty holiday – and August 31.

One in seven were snapped up within a week of being put on the market. 

The number of homes sold within a week of hitting the market has reached the highest in a decade as buyers rush to take advantage of the stamp duty holiday

The number of homes sold within a week of hitting the market has reached the highest in a decade as buyers rush to take advantage of the stamp duty holiday

This compares with one in ten in the same time last year.

It means the number of properties sold within a week has risen by 125 per cent over the last year.

These booming figures come hard on the heels of Nationwide revealing that house prices rebounded to hit a record high

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