Response to HMRC transactions October 2015
Tue 24 Nov 2015
Peter Rollings, CEO of Marsh & Parsons, comments: October marks the fifth consecutive month that home sales have cleared 100,000, putting activity in a whole other league to the first half of 2015. There has been a slight correction on a monthly basis, but were still head and shoulders above a year ago, as buyers ride high on the wave of low interest rates and attractive mortgage products.
In London, supply and demand are moving in different directions. Weve seen the number of available properties for sale fall 5% during Q3, compared to a 4% boost in buyers over the same period. As a result, there are currently 14 buyers competing for every home on the market in the capital. Where property is priced sensibly, it is changing hands quickly, but if not, there is still a lot of hesitation in the mix in London. With a lot more stamp duty riding on transactions now, purchase decisions are more price sensitive than a year ago.
HMRC Property Transactions, October 2015
- The provisional seasonally adjusted UK property transaction count for October 2015 was 105,490 residential and 10,160 non-residential transactions.
- The seasonally adjusted estimate of the number of residential property transactions decreased by 0.2% between September 2015 and October 2015. This months seasonally adjusted figure is 6.3% higher compared with the same month last year.
- The number of non-adjusted residential transactions was 2.6% higher than in October 2014.