HM Revenue and Customs UK Property Transactions Count – March 2017 released 21st April 2017.
In the commentary they stated: The provisional seasonally adjusted UK property transaction count for March 2017 was 102,810 residential transactions.
The seasonally adjusted estimate of the number of residential property transactions increased by 0.5% between February 2017 and March 2017. This month’s seasonally adjusted figure is 40.9% lower compared with the same month last year. However, this large year-on-year drop is due to the unusually high transaction count in March 2016.
The large increase in transactions for March 2016 followed by the substantial reduction in April is associatedwith the introduction of the higher rates on additional properties in April 2016. Non-tax factors may have causedchanges in the property market as well, for example the Bank of England’s plans to curb Buy-to-Let mortgages resulting in a rush to purchase before April 2016, and the EU Referendum affecting transactions in the following months. The residential count includes properties paying the main and additional rates.
Read the Property Transactions in the UK – March 2017 on Gov.UK in full click here.