Photo: Alan Feebery
UK property sales are going from “strength to strength”, according to new figures from HMRC.
The provisional seasonally adjusted UK property transaction count for August 2015 was 106,480 residential and 10,880 non-residential transactions..
The seasonally adjusted estimate of the number of residential property transactions totalled 106,480 in August 2015, up 3.1 per cent from July 2015 and 5.7 per cent year-on-year.
For August 2015, the number of non-adjusted residential transactions was 7.4 per cent lower compared with July 2015. The number of non-adjusted residential transactions was 1.9 per cent lower than in August 2014.
Peter Rollings, CEO of Marsh & Parsons, comments: “Taking into account seasonal adjustment, property sales are going from strength to strength, and showing great improvement from this time last year. With the spectre of higher interest rates being kept at bay, buyer demand is in full swing and summer sales have continued to blossom in August. After slightly fewer home sales than we would expect in a typical July, buyers last month were showing a new enthusiasm and readiness to enter the market.
“The changes to stamp duty are still washing over London and cooling activity at the topmost tiers of the housing market. But overall demand for property in the capital hasn’t waned, as young professionals and first-time buyers continue to seek out up-and-coming areas to put down roots. The subsequent squeeze on available property for sale in the capital should keep pushing house price growth along well into the autumn.”