UK housing transactions leapt 11.6% in May, to 98,460, up from 88,230 in April, HMRC has reported.

The figure, the highest so far this year, is however lagging 4.5% behind May of last year when there were 103,110 sales.

All are non-seasonally adjusted figures – ie, the ‘actuals’.

While the figures show what a long way the market has come from its darkest days – in May 2009, there were only 64,640 transactions – transactions are still a long way behind pre-recession figures.

In May 2007, HMRC reported 140,110 transactions.