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Property transactions up in November

Owain Thomas
Written By:
Owain Thomas

Residential property transactions rose slightly in November to 102,050, according to seasonally adjusted figures from HM Revenue and Customs (HMRC).

The provisional total is 1.9 per cent higher than November 2018, and 3.2 per cent higher than October 2019.

However, it maintained the generally consistent trend of around 100,000 transactions per month that has been in place for the last five years.

Yopa chief property analyst Mike Scott said the figures showed the market was still doing well, and had recovered from its slowdown earlier in the year.

“The year overall has stayed in line with the very stable figures from 2014 onwards, with an average of 100,000 homes sold per month, 1.2 million per year,” he said.

“We expect a slight increase in the numbers next year, as we enjoy a pause from the political uncertainty of the past few years, and there should be a little more than 1.2 million home sales in 2020.”

The 10,270 non-residential transactions in November was 3.8 per cent lower than November 2018, but 5.4 per cent higher than October 2019.