Residential property transactions pick up in year to July

Residential property transactions pick up in year to July

Todays other news
A popular northern city has been named the UK property...
New data from Hamptons shows a massive rise in service...
The data has been produced by high end estate agency...
Even the likes of Croydon is now seeing prime-priced property...
The call has come from the British Property Federation...


There were 104,760 residential property transactions in the UK in July, up 1.3% from June and 8.3% higher than the corresponding month last year, according to seasonally adjusted statistics from HMRC.  

But HMRC urged caution when making comparisons in transaction levels for July as some buyers may have been deterred by political uncertainty caused by June’s general election, and the EU referendum in June last year.

“After three consecutive falls, it’s encouraging to see property transactions start to pick up again,” said Danny Waters, chief executive officer of Enra. “The political and economic upheaval we have seen in recent months has plagued the property sector, so this increase could be an indication that buyers and sellers are beginning to feel more confident.”

Record-low interest rates are likely to keep demand for property high, but ultimately the government needs to address the ongoing issue of supply, according to Legal & General Mortgage Club director Jeremy Duncombe.

He commented: “We need a long-term solution by building more homes allowing a greater number of affordable properties to come onto the market.

“This will not only provide more choice for second and last-time buyers, but also free up additional housing stock for first-time buyers to secure homeownership.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Property Investor Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Will Non Doms quit the UK if the government changes...
The Spanish PM says he would like an outright ban...
With Spanish investment properties set to be taxed, is Florida...
Stamp Duty thresholds change on April 1...
Spain’s draconian new tax is already spooking British investors...
The Budget has forced a revision of forecasts for the...
Prices and sales volumes will grow in 2025 despite the...
Recommended for you
Latest Features
A popular northern city has been named the UK property...
New data from Hamptons shows a massive rise in service...
The data has been produced by high end estate agency...
Sponsored Content
As the property industry shifts towards sustainable practices, Inspired Property...
Are you concerned about rising interest rates and their potential...
In the ever-evolving landscape of property investment, staying ahead of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here