Housing Transactions rise according to HMRC – 25th March 2010

Housing Transactions rise according to HMRC – 25th March 2010

HMRC month residential property transaction figures indicate that the last quarter and the last month have had considerably more housing transactions than for the same period in 2009.
Residential property transactions in February 2010 for England were 51,000 transactions against a prior year figure of 37,000 for February 2009 though both these figures remain considerably lower than the 97,000 transactions in February 2007.
Whilst the news looks positive for all those involved in the residential property sector there has been a distorting impact of the changes to the SDLT threshold last year as people rushed to complete before the end of the period.  Housing transactions in December were 90,000 being the largest volume month for the whole of 2009.
It is also noticable that in the period May 2009 to December 2009 volumes were high in each of those month than have have been in January and February this year.
With more for sale signs being reported by agents, a little sun many will hope this increasing trend will continue however the impact of the election and the world cup remains unclear and many firms are cautious.

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