Thousands of sellers are coming to the property market in the southern commuter belt as a result of the stamp duty holiday, according to new Rightmove data.

The property expert suggested that commuter towns in the East of England have seen the biggest annual rise in new listings since Chancellor, Rishi Sunak, announced the rise to the stamp duty threshold on 8 July.

Data showed that the top five areas, all in the southern commuter belt, have seen the number of new properties coming to market double, compared with the same six-week period in 2019.

Harlow in Essex is where new sellers have been most tempted to come to market, with the number of new listings up 121% compared to the same time last year. Hertford (113%), Wickford (105%), St. Albans (100%) and East Grinstead (98%) make up the top five for increased activity, which are all within a 70-minute train commute of Central London.

Rightmove suggested that increased demand in these towns is also outstripping the growth of available stock, as fast-paced local markets are creating a rapid turnover of properties for sale. The analysis indicated that demand has increased by at least 50% year-on-year in each of the top ten locations, but available stock for sale is not matching this demand – meaning there is still an imbalance despite the new stock coming on.

“We always knew that the stamp duty holiday was going to be a big incentive for people to get moving this year, and it’s certainly sparked a home-moving frenzy across commuter towns in the south of England,” Rightmove property expert, Miles Shipside, commented. Thousands of sellers are being tempted to come to market in these areas for a number of reasons.

“Firstly, lots of  buyers stand to make pretty sizeable savings thanks to the stamp duty holiday – particularly in the southern commuter belt – so now seems as good a time as any to press ahead with home-moving plans.

“We’re also seeing a growing trend of people looking to move out of urban areas and into smaller towns, with homeowners in built-up areas reassessing their housing needs and looking for places with more outside space.

“Lastly, proximity to a station doesn’t seem to be as important as it once was, meaning sellers in these commuter towns are looking to move a little further afield as working from home becomes a more permanent way of life.”

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