Residential transactions up 1% in October, says HMRC

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There were 97,640 residential transactions in October, up 1 per cent on September but 8 per cent lower year-on-year, according to new figures from HMRC.

Meanwhile there were 97,660 transactions in August.

March 2016 recorded the highest number of transactions in the last ten years.

Legal & General Housing Partnerships director Stephen Smith says:  “Despite last month’s annual and monthly decrease in transaction numbers, October’s results highlight the unpredictable nature of our housing market by showing a monthly rise in the number of property transactions.

“These figures confirm that the appetite for home ownership remains strong as we draw to the end of 2016.”