“Whenever it’s withdrawn you risk a period of stagnation and overblown house prices as you get towards the end. Extensions can become permanent.”
David Westgate, group chief executive at Andrews Property Group, described the extension has simply “kicking the can down the road”.
Mr Westgate said buyers will face the same “cliff edge” in June when the extension comes to an end as people rush to complete their transactions.
He explained: “Conveyancers are already struggling to work their way through the growing pile of cases accumulating on their desks.
“Extending the deadline to the end of June will simply add a whole lot more cases to the bottom of the pile, and clog up the system.