Property sales fell in August but UK housing market still proving resilient

Property sales fell in August but UK housing market still proving resilient
22/09/2017 , by , in INTERNATIONAL

Residential property sales fell by 0.5% between July and August this year but were 6.6% higher than a year ago and around the same for the month of August in 2015, official figures show. The data published by HMRC also shows that non-residential property sales decreased by 2.1% but were 1.8% higher compared with the same month last year.

The report suggests that caution should be used making comparisons of transactions between August 2017 and August 2016 as some buyers may have changed their behaviour as they considered the result of the June 2017 general election, and the European Union referendum in June 2016.

Meanwhile figures from the Land Registry show that it completed 1,671,900 applications in August with the South East having the highest regional number at 392,737 and Birmingham this most by local authority area with 25,179.

Of the total some 394,119 were applications in respect of registered land, 774,442 were applications to obtain an official copy of a register or title plan, 229,895 were searches and 81,156 were transactions for value.

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