UK’s residential sales up by five per cent
The provisional seasonally adjusted UK property transaction count for June 2016 was 94,550 residential and 10,930 non-residential transactions.
Residential property sales recorded in the UK increased by almost five per cent between May and June 2016, according to the latest estimated figures to be published. The residential transaction count was 94,550 and while this is up 4.9 per cent month on month, it is 10.2 per cent lower compared with the same month last year.
The large increase in transactions for March 2016 followed by the substantial reduction in April is likely to be associated with the introduction of the higher rates on additional properties in April 2016, according to HMRC which publishes the figures.
However, whilst April and May 2016 are lower than the corresponding months in 2015, it should be noted that the total for March to May 2016 is still substantially higher than the corresponding period last year, it pointed out.