Property transactions reach 16-month high


The number of residential property transactions reached a 16-month high in June, according to new figures from HMRC.

There were 104,590 residential property transactions last month – the highest monthly total since February 2014 – which is a 3.2 per cent year-on-year increase.

On a monthly basis, the number of transactions rose 4.7 per cent from 99,890 in May.

While the number of transactions is rising, the current total is still some way off the 150,000 deals witnessed in 2007.

Marsh & Parsons chief executive Peter Rollings says: “Property sales jumped to it in June, as the UK housing market gets back into the swing of things after some recent disruptions to the tempo.

“This has started to make up for any shortfall in the months preceding the general election – and we’re seeing growth on an annual basis once again.”

Estateagent4me managing director Ben Thompson says: “The number of housing transactions in the UK has increased over the past month, as any uncertainty around the general election fades away.

“Although the economic picture is improving which may encourage more potential movers into the market, it will be interesting to see what impact Mark Carney’s comments have on the likelihood of an interest rate rise for consumers.”