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Perk That Fueled the U.K.’s Housing Boom Is as Good as Gone

  • Property market is roaring despite huge economic slump
  • Backlogs mean new buyers won’t complete before March deadline
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Photographer: Ian Hodgson/Bloomberg
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The U.K. housing market’s recession-defying surge is about to face a reality check.

A government perk that’s bolstered demand for homes has only two months left to run, and almost one-in-six transactions currently underway are likely to miss out. The end of the tax break that’s saving buyers as much as 15,000 pounds ($20,400) threatens to puncture a boom that stoked prices to the fastest gains in six years.