Comment on HMRC Property Transactions July 2015
Fri 21 Aug 2015
Peter Rollings, CEO of Marsh & Parsons, comments: "Theres certainly been a shift-change of late, with property sales in June and July stepping up to the mark of last summer, after falling short on an annual basis for seven successive months. In July, sales may have slipped back slightly month-on-month, but we need to remember that the market was working overtime in June to regain ground lost before the election.
"Ever since the stamp duty system switch-over, property taxation has become more of a sticking point in London, and here buyer demand has slowed somewhat at the top-end. It will take a while for these changes to fully bed in, and in the meantime house price rises and property sales in the capital may be outshone by other UK regions for the months to come. But thats not to say theyve fallen out of line and with an average 12 buyers chasing every available property on the market, the strength of the demand for homes in London will continue to push growth up a gear.