London Daily

Focus on the big picture.
Friday, Feb 27, 2026

Budget housing boom looms as millions of buyers hit agents’ websites

Budget housing boom looms as millions of buyers hit agents’ websites

Millions of homebuyers started their property hunt within minutes of yesterday’s Budget

Rishi Sunak’s double Budget boost for the housing market sent buyers stampeding to property websites yesterday ahead of an expected spring boom.

The Chancellor confirmed in his speech yesterday that the stamp duty holiday on purchases up to £500,000 will be extended three months to the end of June saving purchasers up to £15,000 in tax.

He also revealed details of a new Government-backed mortgage guarantee scheme for buyers with only a five per cent deposit.

Within minutes of the Chancellor sitting down in the Commons millions of potential buyers began searching out new homes and mortgage deals online.

‘Immediate spike in activity’ for estate agents


Property portal Rightmove had its busiest ever day since it was founded 20 years ago with more than nine million visits.

London estate Chestertons said it saw a 25 per cent rise in enquiries compared with the previous day between 1pm and 8am this morning.

They were 37 per cent higher than the same day last week and 41 per cent up on the average so far this year.

Dominic Agace, chief executive of Winkworth, which has 60 offices across the capital said it saw a 15 per cent surge in traffic to its website yesterday afternoon.

He said: “We saw an immediate spike in activity, compared to before the Budget and the same period last week.

“Talking to our offices, some noticed a surge of interest when the stories on stamp duty and 95 per cent mortgages emerged over the past week or so.

“The stamp duty holiday extension will take the pressure off those battling to beat the deadline and the mortgage guarantee scheme is a great boost to buyers and sellers in London, particularly in a sector of the market which has struggled due to lower mortgage availability.”

North London estate agent Jeremy Leaf, north London estate agent and a former RICS residential chairman, said: “Our offices were noticeably busier following the Budget although the pick-up in activity started a week ago as so much Budget content was leaked before the big day. Many people have been making decisions for a while now.

“It’s not just a kinder-than-expected Budget for buyers and the 95 per cent government-backed mortgages which are making a difference. Further rollout of the vaccine, easing of lockdown restrictions and better weather are all playing a part.

“With the stamp duty holiday only extended for a few months, purchasers will still have to move quickly bearing in mind the present backlog in order to take advantage.”

Mark Harris, chief executive of mortgage broker SPF Private Clients, said: “So far, we’ve had more enquires about the stamp duty holiday extension than 95 per cent mortgages but there has been interest from Help to Buy purchasers who were considering new build.

“They have paused their search because they are more interested in being able to borrow 95 per cent on an older property. We expect to see more of this and the sooner we have visibility on some 95 per cent mortgage products, the better.”

Newsletter

Related Articles

0:00
0:00
Close
UK Government Reaches Framework Agreement on Release of Mandelson Vetting Files
UK Police Contracts With Israeli Surveillance Firms Spark Debate Over Ethics and Oversight
United Airlines Passenger Hears Cockpit Conversations After Accessing In-Flight Audio Channel
Spain to Conduct Border Checks on Gibraltar Arrivals Under New Post-Brexit Framework
Engie Shares Jump After $14 Billion Agreement to Acquire UK Power Grid Assets
BNP Paribas Overtakes Goldman Sachs in UK Investment Banking League Tables
Geothermal Project to Power Ten Thousand Homes Marks UK Renewable Energy Milestone
UK Visa Grants Drop Nineteen Percent in 2025 as Migration Controls Tighten
Barclays and Jefferies Among Banks Exposed to Collapse of UK Mortgage Lender MFS
UK Asylum Applications Edge Down in 2025 Despite Rise in Small Boat Crossings
Jefferies Reports Significant Exposure After Collapse of UK Lender MFS
FTSE 100 Reaches Fresh Record Highs as Major Share Buybacks and Earnings Lift London Stocks
So, what's happened is, I think, government policy, not just under Labour, but under the Conservatives as well, has driven a lot of small landlords out of business.
Larry Summers, the former U.S. Treasury Secretary, is resigning from Harvard University as fallout continues over his ties to Jeffrey Epstein.
U.S. stocks ended higher on Wednesday, with the Dow gaining about six-tenths of a percent, the S&P 500 adding eight-tenths of a percent, and the tech-heavy Nasdaq climbing roughly one-and-a-quarter percent.
From fears of AI-fuelled unemployment to Big Tech's record investment, this is AI Weekly.
Apple just dropped iOS 26.4.
US Lawmakers Seek Briefing from UK Over Reported Encryption Order Directed at Apple
UK Business Secretary Calls on EU to Remove Trade Barriers Hindering Growth
Legal Pathways for Removing Prince Andrew from Britain’s Line of Succession Examined
PM Netanyahu welcome India PM Narendra Modi to Israel
Shadow Diplomacy: How Harry and Meghan’s Jordan Trip Undermines the Monarchy
Sir Jim Ratcliffe, co-owner of Manchester United, comments on immigration in the UK.
Bill Gates, the UN and the WEF are attempting to construct "a giant digital gulag for all of humanity" via digital ID, CBDCs and vaccine passport infrastructure.
Britain’s Channel Crisis: Paying Billions While the Boats Keep Coming
Downing Street’s Veteran Deception Scandal
UK HealthCare Expands ‘Food as Health’ Initiative Statewide to Tackle Chronic Illness in Kentucky
Leonardo Chief Says UK Set to Decide on New Medium Helicopter Programme
UK Slows Chagos Islands Agreement After Concerns Raised in Washington
European and UK Stock Markets Reach Fresh Highs as Banks and Miners Lead Rally
UK Government Insists Chagos Islands Negotiations Continue After Minister’s ‘Pause’ Remark
No Confirmed Deal for Engie to Acquire UK Power Networks Amid Market Speculation
UK Reaffirms Updated Entry Requirements for Travellers as of February 25, 2026
General Atlantic to sell equity stake in ByteDance, valuing the company at $550 billion
German Chancellor Friedrich Merz Secures Pledge from China for Greater Imports of Quality Goods
Lord Mandelson Condemns Arrest as Driven by ‘Baseless Suggestion’ He Would Flee Abroad
Former UK Ambassador Released on Bail Following Arrest in Epstein-Linked Investigation
UK Parliament Orders Release of Former Prince Andrew’s Government Vetting Files
Reddit Fined £14 Million by UK Regulator Over Failures in Age Verification Controls
UK Moves to Tighten Regulation of Netflix, Disney+ and Prime Video Under New Media Rules
British Woman Who Reported Rape in Hong Kong Faces Possible Prosecution
'Christianity is the religion that has made this country great.'
Man Receives Parking Ticket 38 Years After Offense: ‘City Officials Said It’s Legitimate’
Woman Receives Gift Card for Christmas – Discovers It Is ‘Worth’ 63,000,000,000,000,000 Pounds
UK Sanctions New Zealand Insurer Maritime Mutual Following Allegations Over Russian Oil Cover
Reform MP Danny Kruger Condemns UK’s ‘Unregulated Sexual Economy’ in Call for Tougher Controls
The Show Must Go On: Prince William and Kate Middleton Shine at the BAFTAs Amid Andrew’s Arrest
UK Sanctions Russian ‘Illicit Oil Traders’ After Email Blunder Exposes Sanctions Evasion Network
Russia Amplifies Baseless Claims That UK and France Plan to Arm Ukraine with Nuclear Weapons
UK Imposes Sanctions on Two Georgian Television Channels Over Alleged Russian Disinformation
×