The number of dwellings where building work has started on site was 35,710 in July to September 2020, up 111% on the previous quarter, according to the Ministry of Housing, Communities & Local Government.
The holiday means that homes bought for under £500,000 are exempt from paying SDLT.
With the SDLT holiday due to end in March and the furlough scheme in April, both months will be extremely important for the property market and the UK economy.
Mr Franks added: “The Halifax is right that unemployment levels are a key threat to property values this year, but we believe demand will remain relatively strong as it still costs less to own than to rent and borrowing is extraordinarily cheap.
“During 2021, people will also continue to change their living arrangements as companies adapt their remote working policies on a more formal basis.
UK house price grew 6 per cent on a yearly basis in December 2020, shows new data from Halifax. This leaves the average house price at £253,374, little changed from November’s average price, due to a monthly rise of just 0.2 per cent. This is, in fact, the smallest monthly rise seen in the last six months, which have
BBC News
By Simon Read
UK house prices climbed 7.5% in 2020, the highest growth rate for six years, building society Nationwide found.
Prices ended the year 5.3% above the level prevailing in March, a resilience that seemed unlikely at the start of the pandemic, it said.
Housing demand has been buoyed by a raft of policy measures and changing preferences due to the pandemic.
House prices were 0.8% higher in December than November, with the average property valued at £230,920. The furlough and Self Employment Income Support schemes provided vital support for the labour market, while a host of measures helped to keep down the cost of borrowing and keep the supply of credit flowing, said Robert Gardner, Nationwide s chief economist.
| UPDATED: 14:38, Wed, Dec 30, 2020
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Nationwide released their monthly house price index this morning, marking the end of a surprisingly positive year for the property market. The latest figures suggest that annual house price growth surged to a six-year high of 7.3 percent at the end of the year. This is up from 6.5 percent last month, with prices rising 0.8 percent month-on-month, after taking seasonal effects into account.