UK Property Transactions March 2016

April 22, 2016

UK Property Transactions March 2016 released yesterday by HM Revenue and Customs.

 

The provisional seasonally adjusted UK property transaction count for March 2016 was 165,480 residential and 9,830 non-residential transactions.

The seasonally adjusted estimate of the number of residential property transactions increased by 41.5% between February 2016 and March 2016. This month’s seasonally adjusted figure is 69.7% higher compared with the same month last year.

The large increase in transactions for March 2016 is likely to be associated with the introduction of the higher rates on additional properties in April 2016. These measures were announced in the Autumn Statement 2015 for England, Wales and Northern Ireland, and in the Scottish Government’s draft 2016 – 17 budget for Scotland.

Additional non – tax factors may have played a role as well, for example the Bank of England’s plans to curb Buy – to – Let mortgages resulting in a rush to purchase.

To read the full UK Property Transactions March 2016 statistics report on the Gov.UK website click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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