It may make little difference to agents but a leading analyst suggests thousands of buyers have effectively lost money on their purchase – even if they complete in time to secure the full stamp duty holiday saving.

PropTech analyst and market commentator Anthony Codling, in a post on his website Twindig, says since the announcement of the stamp duty holiday, house prices in 67 of the 380 areas reported by HM Land Registry have risen by an average of more than the maximum SDLT saving possible.

The 20 locations where typical house prices have risen in excess of the largest possible stamp duty saving are, unsurprisingly, in relatively affluent areas.

The top four, for example, are Hammersmith & Fulham, Kensington & Chelsea, Islington and Hackney, all in London and all with house price hikes of over £50,000 in recent months against a maximum stamp duty saving of £15,000.

The London boroughs of Brent and Ealing also make the top 10 as does Rutland, Oxford, Cotswolds and in Devon the South Hams.

However there are considerably more locations where buyers have genuinely made savings, despite rapidly rising prices.

The top 10 ‘winning’ areas include the City of London, Westminster, Camden and Richmond, all in London – the City of London in particular is a windfall for buyers, as Codling reports that the average house prices there has plummeted almost £80,000 since early July.