Residential property transactions see 32% rise in June: Anna comments on HMRC data

The latest data and analysis from HMRC has revealed that, between May and June this year, residential property transactions climbed to 63,250 – a rise of 31.7%.

However, largely due to the pandemic, this figure is still 35.9% lower than the same period a year earlier.

On a non-seasonally adjusted basis, the number of residential transactions in June totalled 68,670, 31.5% lower than June 2019.

Anna Clare Harper, author of Strategic Property Investing, says: “The context of the recent change to stamp duty is making waves through the housing market. The quick implementation and temporary nature of the change, combined with pent-up demand in the housing market, has for obvious reasons resulted in an increase in transactions.

“As with health-related statistics on Covid-19, it;s important not to take the data out of context when looking to the future. It is hardly surprising that the stamp duty change has resulted in a bounce in transactions. However, it is worth noting that this does not give an accurate guide to future trends or any guarantee as to what will happen going forward.”

To read the full article on Property Reporter, visit https://www.propertyreporter.co.uk/property/residential-property-transactions-see-32-rise-in-june.html