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Posted by Emily Swanson

Transactions in the British property market may go up in volume when the stamp duty tax holiday comes to an end later in the year, an expert in the industry believes.

Gary Styles, strategy, risk and economics director at Hometrack, expects the closure of this scheme - which is scheduled to take place on March 24th - may have a "small effect" on the number of purchases taking place.

Mr Styles indicated that first-time buyers will probably be eager to complete any ongoing transactions prior to this date in order to save some cash.

Indeed, the National Association of Estate Agents recently called on all people in this position to have a good line of communication with their solicitors to make sure they beat this deadline.

Mr Styles went on to say that first-time buyers would definitely benefit if the stamp duty tax holiday was extended, as they are generally struggling to put together a deposit at present.

26/01/2012 12:03