A number of buyers are rushing to make the most of the stamp duty holiday which ends at the end of next month, but time is running out.

More than half of commercial brokers predict that a number of transactions will miss the 31 March stamp duty deadline, according to a new survey.

The study, carried out by Shawbrook Bank, found that 54% of brokers do not expect existing deals to complete by the end of next month.

Just over two-fifths estimate that there will be a backlog  of work and a drop in investment in the market, while a third – 34% – are preparing for falling property prices.

Consequently, three quarters of brokers think the tax break should be extended beyond March, according to the survey.

Respondents were generally positive about the impact the  stamp duty holiday has had, with 63% of brokers seeing increased investment in the property market, while a third – 33% – saw resilient property prices.

According to the research, 86% of brokers supported the stamp duty holiday when it was introduced in July last year.

Emma Cox, sales director of property finance at Shawbrook Bank, said: “The announcement of the stamp duty holiday in the summer last year has no doubt had a hand in helping to release pent up demand and get the housing market moving again.

“As investors seek to make the most of the holiday ahead of the deadline, it is understandable that brokers are reporting these positive outcomes as a result.”

“It is a very busy time for the property market, which is why it remains crucial for lenders to continue to work closely with brokers over the coming months,” she added.