UK Property Transactions Count – May 2017 with comment from Richard Sexton, director at e.surv
The provisional seasonally adjusted UK property transactions count for May 2017 updated yesterday 21st June from HM Revenue & Customs was 100,170 residential and 10,760 non-residential transactions.
The seasonally adjusted estimate of the number of residential property transactions decreased by 3.3% between April 2017 and May 2017. This month’s seasonally adjusted figure is 13.4% higher compared with the same month last year.
Read the HMRC publication in full click here.
Richard Sexton, director at e.surv, comments on the number of property transactions data, published by HMRC.
“Despite the recent election, property transactions have not cooled off drastically and confidence in the market still remains. Summer months often see housing transactions increase, however this time last year our data reported 65,113 house purchase approvals, the lowest monthly figure for home purchase loans since May 2015 as the UK paused ahead of the political uncertainty of last June’s Referendum.
“Today’s lending market continues to offer competitive products and record low interest rates but these do not answer the fundamental issue which is stopping so many get onto the housing ladder. In order to open up the market, affordable and accessible housing needs to be built to address the housing shortage.”