Property transactions bounce back by 5% in September
According to the latest data from HMRC, property transactions witnessed an uptick in September, rising 5% from August and 2.3% from September 2018. Neil Knight responds to the figures...
UK property transactions hit 101,740 in September, according to HMRC’s provisional seasonally adjusted estimate. The figures hint that there is vibrant housing market waiting beyond the Brexit uncertainty. The news follows an analysis which suggests a competitive mortgage market is easing buyers back into the market.
Neil Knight, business development director at Spicerhaart Part-Exchange and Assisted Move, said: “If you take into account the ongoing uncertainty around Brexit – and there’s just a glimmer of light at the end of that particular tunnel – this paints a pretty rosy picture. We’re certainly continuing to see strong demand at Spicerhaart and I’m hopeful that if MPs can now get Brexit sorted, we will see a lot more confidence return to the market.
“We’re also looking to the Chancellor to make some changes to Stamp Duty, which is having a very damaging effect on people looking to move home.”