HMRC May property transactions

HMRC May property transactions

Revealing the monthly estimated figures for both residential and non-residential property transactions, HMRC property statistics for May 2017 have been published today (21/06/17).

Showing data for the UK and its constituent countries, the publication is based on data from both the HMRC’s Stamp Duty Land Tax (SDLT) and the Scottish Administration’s Land and Buildings Transaction Tax (LBTT) databases.

For May 2017, the provisional seasonally adjusted UK property count was 100,170 residential and 10,760 non-residential transactions.

Residential Transactions

On a seasonally adjusted basis, the estimate for the number of residential transactions fell by 3.3% between April 2017 and May 2017. The seasonally adjusted figure is around 13.4% higher than the level recorded in the correspondent month last year.

Given the unusually low level of transactions during May 2016, however, direct comparisons between the two months should be avoided. The drop in transactions was largely attributed to the rise in stamp duty for additional properties, which was implemented during April last year.

Where non-adjusted transaction levels are concerned, the number recorded for May 2017 was around 7.9% higher than April 2017. In comparison to May 2016, however, the number of non-adjusted residential transactions was 15.9% higher.

Non-residential Transactions

For non-residential property transactions, the seasonally adjusted estimate grew by 1.5% between April 2017 and May 2017. In comparison to the corresponding month last year, the figure for 2017 is 4.6% higher.

As can be generally anticipated with the seasonal nature of purchases, non-adjusted transactions have observed peaks and falls on a monthly basis.

The statistics can be accessed here.

Georgia Owen

Georgia is the Content Executive and will be your primary contact when submitting your latest news. While studying for an LLB at the University of Liverpool, Georgia gained experience working within retail, as well as social media management. She later went on to work for a local newspaper, before starting at Today’s Conveyancer.

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