Countrywide has announced that sales were up by almost one third in the run-up to the Stamp Duty reform.

In a remarkably thin trading update, consisting of just 396 words, this morning, Countrywide also made a veiled reference to last year’s cull of senior people. It said it had started 2016 with “real momentum following implementation of our transformation agenda … as changes to people and structure were complete”.

The statement continues: “Equally, the first quarter finished strongly as we saw acceleration in transactions on buy to let properties and second homes in response to the introduction of the Government’s new 3% Stamp Duty surcharge that became effective from 1st April 2016.

“House exchanges across the group were ahead 30% compared to the same period last year when market transactions were depressed by concerns in the run up to the general election in May 2015. That 30% increase enhanced performance across the group.”

However, Countrywide said it expects the housing market to slow in the second quarter of this year.

The company said it plans to continue growing its lettings business, both organically and by continued acquisitions.

CEO Alison Platt said: “We are encouraged by the strong performance delivered in the first quarter and remain on track to pilot our customer focused multi-channel proposition in three brands during the second quarter.

“Mindful of the political and economic uncertainty surrounding the EU referendum we are taking a cautious view of the coming months.

“Notwithstanding this, however, we continue to expect to make strong progress in 2016 as we execute our strategy and maximise market opportunities and therefore maintain our current financial outlook for the full year.”