HMRC’s seasonally adjusted estimate of the number of residential property transactions increased by 4.7% between May 2015 and June 2015.
June’s seasonally adjusted figure is 3.2% higher compared with the same month last year.
The seasonally adjusted estimate of the number of non-residential property transactions increased by 8.1% between May 2015 and June 2015. This month’s figure is 9.9% higher compared with the same month last year.
Duncan Kreeger, director of West One Loans, said: “It’s not just the housing market that is enjoying a post-election bounce, with non-residential transactions enjoying almost double the monthly improvement. On an annual level the contrast is even more marked, with an increase almost three times larger than the mainstream residential market.
“This shows that is not just homeowners wanting to take advantage of the current favourable economic climate and low interest rates on offer, but businesses and developers too. With Bank of England Governor Mark Carney suggesting last week that interest rates could rise around the turn of the year, it makes sense for individuals – and commercial ventures – to act soon if they want to capitalise on the current situation.”