Buyers Face Record Choice of Homes Amid Tax Break Rush

Homebuyers who miss this month's stamp duty deadline in England will benefit from a decade-high number of properties to choose from this spring, with competition prompting many sellers to restrict price increases, according to a report.

- Julia Kollewe

The average price of a property coming to market for sale across the UK has risen by 1.1% or £3,867 this month to £371,870, in line with the long-term average increase in March, according to the property website Rightmove. Many new sellers are pricing realistically, rather than getting carried away with over-optimistic pricing more typical in the spring, it said.

The market is particularly busy this March as buyers rush to complete deals before a tax break runs out at the end of the month. The stamp duty thresholds, which were temporarily increased in September 2022, are due to fall back after the deadline, which means some buyers could end up paying thousands more in tax.