Currently the end of SD relief is 31st March 2021. Might it happen that vendors try to drop the price just as the relief comes to an end? I prefer to think most people buying will still want to buy their property but some are genuinely cash strapped
Price increases have outstripped stamp duty reduction (where I am), property isn’t a rational market.
My guess is that property will slow down from pre-Christmas until April, if buyers realise they’ll not complete in time for 31 March, and vendors decide to wait until the spring to put house on market. Then it’ll be busy again after a 6-month gap!