House prices could rise by 4.7% annually come September as the first transactions complete since the market reopened and last month’s Stamp Duty holiday was introduced, research claims.

Analysis by conveyancing comparison website reallymoving said it received record levels of quote enquiries in June when property lockdown restrictions were lifted.

The website predicted activity will be further boosted by the raising of the Stamp Duty threshold.

Based on property values entered in conveyancing quotes last month, the website is predicting house prices will rise by 1.9% over the next three months.

Annually, prices will fall by 1.4% in August before increasing by 4.7% in September to £314,235, the analysis claims.

Rob Houghton, chief executive of reallymoving, said: “Buyers took a cautious approach when the housing market first reopened, but we’re now seeing a clear surge in activity levels and a corresponding rise in sale prices being agreed.

“There is little positive economic news on the horizon, but buyers who are confident in their jobs and financial position may be deciding to press ahead now rather than wait indefinitely – especially as many have already held off for months or even years awaiting a Brexit resolution.

“Low interest rates and the Chancellor’s Stamp Duty giveaway will encourage them further.

“The longer-term outlook of the housing market remains unclear though and much will rest on the success of the Government’s investment in job creation and economic support, particularly after the furlough scheme and mortgage payment holidays come to an end.”