- Estate agency M Winkworth said it had seen a significant recovery in sales interest after the UK government cut the country's stamp duty threshold.

UK home buyers won't have to pay stamp duty on houses worth up to £500k until 31 March 2021, compared to the old threshold of £125k.

M Winkworth said sales applicants registering on the day after the announcement jumped 64% on the previous week, while website traffic hit the highest ever level on the day of the announcement.

The number of instructions and viewings since 8 July were up 17% and 14%, respectively.

'Although the significant rise in activity is welcomed, it is too early to predict to what extent this will translate into completed sales and how sustained this increased activity level will be across the network,' the company said.

'Accordingly, and although encouraging, it is not yet possible to predict the extent of any impact on Winkworth's financial performance.'

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