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UK property transactions up 3.2% month on month, HMRC provisional data shows

The number of seasonally adjusted property transactions in the UK increased by 3.2% in October and are up 4.3% compared to a year ago, according to the latest data published by HMRC.

The pattern since the beginning of 2013/2014 has been of a general month on month increase in transactions for the seasonally adjusted data until February 2014, then a gradual decrease followed by a flattening out of transaction numbers.

The data also shows that August 2014 saw a peak for recent non-seasonally adjusted transactions, the highest level since November 2007.

In October 2014, the number of non-adjusted transactions has risen compared with September 2014, for residential properties. However, the rise was smaller than in previous years, so the seasonally adjusted figure for October 2014 is lower than in the previous month but higher than in October 2013.

The seasonally adjusted estimate of the number of non-residential property transactions increased by 0.1% between September 2014 and October 2014. This month’s figure is also 8.0% higher compared to the same month last year.

Seasonally adjusted transactions of non-residential property have been fairly stable over the last year. Non-seasonally adjusted transactions had a large drop in the first two months of 2014, but increased sharply in March. There were also dips in May and August, with month on month growth since then.

Meanwhile, the latest transaction data from the Land Registry shows that it completed over 1.5 million applications from its customers in October.

This includes 1,464,352 applications by account customers, of which 382,966 were applications in respect of registered land (dealings), 662,153 were applications to obtain an official copy of a register or title plan, 205,537 were searches and 102,912 were transactions for value.

The South East topped the table of regional applications with 349,858 and Birmingham topped the table of local authority applications with 23,528.

Source: http://www.propertywire.com/

25 November 2014