HMRC’s provisional seasonally adjusted UK property transaction count for June 2019 was 84,490 residential and 9,140 non-residential transactions.
Its provisional seasonally adjusted count of residential property transactions fell by 9.6% between May 2019 and June 2019, and is 16.5% lower than June 2018.
Meanwhile, the provisional seasonally adjusted count of non-residential property transactions fell by 7.2% between May 2019 and June 2019, and is 12.4% lower than June 2018.
Craig Hall, head of broker relationships and propositions at Legal & General Mortgage Club, said: “While support from the mortgage market and government schemes has helped many borrowers buy their first home, the current undersupply of housing is slowing growth in transaction volumes.
“Despite Legal & General Mortgage Club research showing that just 12% of consumers, looking to buy in the next six months, have considered delaying their decision because of current political uncertainty, a lack of suitable housing at all tenures and high stamp duty costs is leading many to stay put.
“One solution would be to extend the current Stamp Duty exemption to last-time buyers, aiding them to easily downsize to a more suitable home, freeing up larger homes to growing families looking to move up the ladder.
“Anyone unsure about what their next move is, should get in touch with an independent mortgage adviser who can help secure the best mortgage for the individual needs of the borrower.”
