An extension to the current stamp duty holiday until June 30 was confirmed by the chancellor last week, after noting that many new purchases would not complete in time for the original March deadline due to the “sheer volume” of transactions.
But Browne said: “As a result of the chancellor’s announcement, the hold-ups aren’t going to be cleared up swiftly now either.
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“Lenders, conveyancers, valuers, and local authorities, still have a lot of work to get through. There's a big backlog and things are going to continue to be slow.”
chloe.cheung@ft.com
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