UK house sales up 19% year on year for December
The latest UK monthly property transaction report from the HMRC.
- The provisional seasonally adjusted estimate of the number of UK residential transactions in December 2024 is 96,330, 19% higher than December 2023 and 3% higher than November 2024
- The provisional non-seasonally adjusted estimate of the number of UK residential transactions in December 2024 is 98,120, 15% higher than December 2023 and 7% lower than November 2024
- The provisional seasonally adjusted estimate of the number of UK non-residential transactions in December 2024 is 9,850, 3% lower than December 2023 and 4% higher than November 2024
- The provisional non-seasonally adjusted estimate of the number of UK non-residential transactions in December 2024 is 10,450, 3% lower than December 2023 and 7% higher than November 2024
Summary
October 2024 saw a sharp increase in seasonally adjusted residential transactions of 9% compared to the previous month. Transactions fell back to their previous levels in November 2024 and have remained relatively stable in December 2024, increasing by 3% to 96,330 from 93,610 in November 2024 .
Similarly, seasonally adjusted non-residential transactions saw a spike in October 2024, recording the highest monthly seasonally adjusted figures since these statistics began in April 2005. This was followed by a dip in November, where transactions fell by 33% relative to the previous month. Transaction figures have stabilised in December, increasing by 3% to 9,850 from 9,460 in November 2024.
Nathan Emerson, CEO of Propertymark, comments:
“Stamp Duty changes across England and Northern Ireland, more competitive mortgage deals, easing financial pressures and higher house prices are all contributing to higher demand and growth within the housing market. This overall mix of market conditions has inspired many and provided extra confidence many people might have been waiting for to consider their next house move.
“Propertymark member agents reported that new buyers registered per branch have on average increased year on year by 44%. Therefore, with demand rising, now is a compelling moment to consider putting your house on the market. However, activity will likely settle around April especially, allowing those looking to move home to more comprehensively scan the market and negotiate in a slower-paced and more unpressured marketplace.”
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