Search Acumen comments on HMRC’s Monthly Property Transactions for December
Andy Sommerville, Director of Search Acumen, comments:
“Brexit clearly cast a shadow over the UK property market in the run-up to Christmas, leaving the market flattened as a result. It’s likely the same shadow will extend into January once the first 2019 indicators emerge.
“Uncertainty can quickly mean sales are put on ‘pause’, and some buyers and investors across the country are understandably playing a waiting game ahead of March.
“Despite the distraction of Brexit and the short-term lull in sales, we urge the Government to remain focused on its long-term ambitions to deliver a more efficient and expedient property market. Initiatives such as HM Land Registry’s Digital Street and the Geospatial Commission are making great inroads into exploring how the process of buying and selling homes and commercial premises can be quicker and simpler.
“Outdated processes have long held the property market back, in good times as well as bad, and the benefits of addressing this issue will pay dividends for decades to come.”
