Figures from HMRC show that residential transactions in February this year grew 6 per cent compared to February 2019.
Additionally, the 103,870 residential properties that changed hands during February 2020 gives a 4.5 per cent rise over January 2020’s figures.
Alongside this, there were 11,150 non-residential transactions within the same time period, giving an 8.4 per cent growth rate on the year and a 14.1 per cent rise over January 2020.
All of the figures above are provisional and seasonally adjusted.
Spicerhaart business development director Neil Knight sums up what quite a lot of people may be thinking: “There is an other-worldly quality to the February transactions figures. It’s like a rear-view mirror to how life was before covid-19 struck,” he says.
He continues: “It’s too early to say exactly what impact the coronavirus lockdown will have. We now have our teams working remotely to ensure there is minimal impact on clients. With people already cancelling planned moves, there can be little doubt, though, that these figures will look starkly different in the months to come.”
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