Latest housing transaction statistics from HMRC has revealed a slight dip in sales in recent months, but that market is holding up, with figures showing it is still an increase from last year.
The findings showed that a provisional non-seasonally adjusted estimate of UK residential transactions in October was 110,850, which is 29% higher than October 2021 and 3% lower than September.
A provisional seasonally adjusted estimate of UK residential transactions in October was 108,480, which is 38% higher than October 2021 and 2% higher than September.
Levels of current monthly property transactions remain similar to late 2019, before the Covid pandemic, the Government says. But recent increases in mortgage rates are unlikely to have had any impact yet on these statistics.
Year on year comparisons for residential transactions should be treated with caution because there was significant forestalling activity in September 2021.
