Comment on HMRC property transactions

“It was to be expected that housing transactions would be lower in July but 62% is quite a drop. Having said that, June was a record month as the conveyancing industry worked hard to get as many house sales over the line before the first phase of the stamp duty holiday ended. This saw record months for most firms in the conveyancing sector.

“We are still seeing a good level of instructions in house sales and purchases as people are still eager to beat the final stamp duty holiday exemption on 30 September. Positive news is that we are also seeing a strong return to the remortgage market despite it being the holiday period, which we expect will continue over the coming months.”

Adam Forshaw, Managing Director, O’Neill Patient