If you are still wondering how last year looked, then it would appear that more properties came on to the market, and fewer sold.
For the second year running, the number of transactions that exchanged were under the million mark, according to one source.
The same source predicts that transactions will not pick up this year.
Official figures, from HMRC and the Land Registry, consistently put transactions at above this ‘magic million’, but according to market tracker TwentyEA, part of TwentyCi, there were just 972,000 exchanges last year, down from 984,000 the year before.
Its sub-1m figure contrasts with the provisional Government figures, which show just over 1m transactions last year in England, and just under 1.2m transactions for the UK as a whole.
For 2017, HMRC puts the number of transactions for the UK at over 1.2m – similar to the figures for the previous three years.
A statistics portal forecasts a rise to 1.3m transactions in 2022, based on the official data showing transactions of almost 1.2m sales last year:
https://www.statista.com/statistics/376118/uk-housing-transactions-forecast/
TwentyCi is a relative newcomer to the housing statistics market, most recently claiming that online agents’ market share has slipped to 7.2% of all exchanges.
Colin Bradshaw chief customer officer at TwentyCi, told us last night: “The UK property market has remained lacklustre in 2018 with a lack of supply thwarting demand.
“With economic headwinds anticipated through the Brexit process and the consequential lack of consumer confidence, the property market looks set to stay subdued into 2019.
“New instructions, while up 4% in 2018, are not translating to an equal uplift in exchanges.”
But who is right about sales? It seems you can take your pick.
Brexit
Falling retail confidence
Rising barriers for landlords
Lower revenues for agents due to government policy
The Christmas break
Now SNOW
What next??????
Its going to be a tough year; lift your fees, maintain a sensible approach to asking prices and you should be okay!!!!
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HMRC confirm 1,013,260 transactions in England, only 2% less than 2017 and invariably the numbers increase as well, so not as bad as predicted?
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Does anyone know where TwentyCi get their data for property exchanges?
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I wonder how many homes are selling, if you deduct the new homes from that figure?
Around here in London, its become a concrete jungle of construction. thousand and thousands have gone up.
When will someone in the treasury notice the impact of Gordon Browns, stamp duty hikes?
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Brexit can cause a lot of issues. This was very detailed and gave lots of information. Thank for the advice.
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