HMRC has reported that the provisional seasonally adjusted UK property transaction count for June 2018 was 96,340 residential and 9,710 non-residential transactions.
The seasonally adjusted estimate of the number of residential property transactions fell by 3.0% between May 2018 and June 2018.
]This month’s seasonally adjusted figure is 5.7% lower compared with the same month last year.
For June 2018 the number of non-adjusted residential transactions was about 13.0% higher compared with May 2018. The number of non-adjusted residential transactions was 8.8% lower than in June 2017.
Kevin Roberts, director of Legal & General Mortgage Club, said: “Overall housing transaction figures are stagnant. Barriers to moving, such as Stamp Duty and the high price of property in our urban areas, means that for many the maxim remains ‘improve, not move’, as they seek to renovate or develop their homes, rather than move up the housing ladder.
“The biggest factor is housing supply. The nation simply hasn’t built enough new homes over the last decade to keep up with demand. Innovation in the mortgage market and schemes such as shared ownership is helping, but if we want to resolve the housing crisis once and for all, we need to meet the target of 300,000 new properties a year.”