Sun fails to shine on property market as transactions plummet 11% year on year

All UK regions posted a double digit decline in sales in July, HMRC data has revealed.

The taxman’s latest UK property transaction figures show sales fell 10.9% annually last month on a non-adjusted basis to 92,280.

The biggest slump was in Northern Ireland, with transactions down 16.5%.

Volumes slipped 10.8% annually in England, 11% in Scotland and 10.9% in Wales.

Sales also fell on a monthly basis in all regions except Scotland, which registered a slight 0.25% rise.

The data was no better on a seasonally adjusted basis, with residential property transactions down by 8.5% between June and July, and 12.4% lower than July 2018 to 86,630.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/825930/UK_Commentary_Aug_2019__cir_.pdf

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