Comment on HMRC property transactions
Following the latest release of the HMRC monthly property transaction figures, Simon Webb, managing director of capital markets and finance at LiveMore, said: “Looking at the non-seasonally adjusted housing transactions, which are 2% lower in October than they were in September, indicates the start of a slowdown in the market. Transactions are likely to drop further as higher mortgage rates and the rising cost-of-living will put some people off buying.
“In contrast, the annual non-seasonally adjusted figures show a 29% rise from October 2021. This is due to the stamp duty holiday peak in September 2021’s figures which then plummeted in October, hence the large annual rise this year.”