Nationwide Building Society says it saw a 61 per cent increase in traffic to its Mortgage Affordability Tool yesterday, following changes to property stamp duty.
In what was dubbed a ‘mini’ budget, chancellor Rishi Sunak yesterday removed stamp duty on property transactions up to £500,000 in England and Northern Ireland.
Nationwide also reports an increase of 49 per cent in traffic to its Quick Quote Mortgage Calculator following the news.
As people reacted to the chancellor’s statement, over 41,000 people visited the mortgage section of the Nationwide website, an increase of 37 per cent when compared to previous weeks.
Nationwide issued the following breakdown of savings available to house purchasers in different regions following the stamp duty adjustments:
| Region | Average House Price | Potential Stamp Duty Saving for home movers1 |
| England | £258,178 | £2,908.88 |
| North West | £170,216 | £904.32 |
| South West | £251,392 | £2,569.60 |
| London | £475,448 | £13,772.40 |
| Outer South East | £282,936 | £4,146.80 |
| Yorkshire & H’side | £162,870 | £757.40 |
| Outer Met | £364,529 | £8,226.45 |
| East Midlands | £187,812 | £1,256.24 |
| East Anglia | £230,652 | £2,113.04 |
| West Midlands | £194,577 | £1,391.54 |
| North | £129,505 | £90.10 |
| Northern Ireland | £143,437 | £368.74 |
