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House sales fell 1.8% in September: HMRC

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The number of residential property transactions fell by 1.8 per cent between August and September, according to the latest seasonally-adjusted HMRC figures.

However, this month’s figure is 4.6 per cent higher than the same month last year.

Overall, the provisional seasonally-adjusted figures show that 100,850 residential and 9,440 non-residential transactions took place during September.

For September, the number of non-adjusted residential transactions was about 6.8 per cent lower compared with August.

The number of non-adjusted residential transactions was 1.2 per cent higher than in the same month last year.

The seasonally-adjusted figure has picked up from slightly more than 80,000 residential transactions in April last year but has remained around 100,000 a month since December last year.

The non-seasonally adjusted figure has been much more volatile: it peaked at just under 120,000 in June but its trough was slightly over 80,000 in January.

The seasonally-adjusted estimate of the number of non-residential property transactions decreased by 7.8 per cent between August and September. This month’s figure is 10.5 per cent lower compared with the same month last year.

The number of seasonally-adjusted non-residential property transactions completions was 9,440 in September compared with 10,240 the month before.

E.surv director Richard Sexton says: “Transactions have continued in the same pattern that we have seen throughout the year.

“Although numbers remain level, there hasn’t been exceptional growth. The shortage of housing supply is clearly acting as a roadblock to transactions.

“In order to answer this, a common goal needs to be agreed by the government and those within the housing industry to build more affordable housing.”

He says that the latest announcements by Sajid Javid, the communities secretary, are a step in the right direction.

“With the consultation underway, now is the time for mortgage lenders, house builders, developers and the government to work together to create an accessible housing market for all,” he adds.

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