A Norfolk estate agent says the housing market shows no sign of cooling - after he received 42 offers from buyers in a day.

It comes as the number of homes bought and sold last month reached a staggering 213,120 - the highest monthly figure since October 1988.

The figures released by the HMRC for June recorded the sixth highest monthly figure in the past 40 years. The stamp duty holiday combined with the pandemic and low cost of borrowing are all thought to have contributed to the high number of transactions.

Jamie Minors, who runs Minors & Brady estate agency with offices across Norfolk and Waveney, said: "We are still seeing fantastic demand despite the stamp duty holiday partially ending.

Norwich Evening News: Jamie Minors, right, and Alex Brady, left of Minors & Brady.Jamie Minors, right, and Alex Brady, left of Minors & Brady. (Image: Archant)

"People are still relocating to Norfolk, investors are investing, first time buyers are getting onto the ladder with affordable lending and the 30-40-year-olds are still keen to move with their growing families.

"The stamp duty was a great benefit, however the culture of wanting a better home is only getting stronger, hence we have received 42 offers in just 24 hours across four of our branches.

"The stock levels now are alarmingly low. Some agents I can see have two or three houses for sale so this will lead to further price rises.

"From January 1 to the end of June we sold 1,067 properties, and we're just 'little old Minors & Brady.'"

Lucian Cook, head of residential research, Savills, said: "It shows just how much a pre-announced stamp duty measure can distort market activity.

"This time that impact has been magnified because of an urgency among buyers in the middle to upper part of the housing market to upsize given their experience of successive lockdowns, further fuelled by an ability to lock into low mortgage rates.

"The impact is far greater than in March 2016 when the 3pc stamp duty surcharge was introduced, especially when you consider there were over 174,000 transactions in March of this year, the original planned date for the stamp duty holiday to end.

"We expect to see a third, peak in transactions in September when the final remnants of the stamp duty holiday come to an end, but given that the maximum saving has fallen from £15,000 to £2,500 it is likely to be less pronounced."

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