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HMRC: Resi transactions up 21.3%

Jake Carter

October 21, 2020

stamp duty

The provisional seasonally adjusted estimate of UK residential transactions in September 2020 was 98,010, 21.3% higher than the figure recorded in August.

On an annual basis, the total number of seasonally adjusted residential transactions was 0.7% lower than in September 2019.

Looking to non-residential transactions, the figure stood at 9,160, which is 18.7% higher than in August 2020; year-on-year, the total figure fell by 6.3% on September 2019.

Sam Mitchell, chief executive of Strike, said: “The latest data on property transactions shows that the market is continuing to benefit from the government’s stamp duty holiday, which has clearly been successful in encouraging more Brits to move than ever before.

“However, with year-on-year figures still slightly down, it is a reminder of just how long it can take for property transactions to complete.

“At the moment, lenders, surveyors and lawyers are all busier than ever and so it may be taking a little longer than usual.

“That is why it is so important that people do not wait around to take advantage of the stamp duty holiday, even if there is still five months to go until the deadline. Starting the process now should allow plenty of time to complete and exchange ahead of the 31 March.”


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