HMRC Data Shows Housing Market Continues To Recover

Data released by Her Majesty’s Revenue and Customs (HMRC) has demonstrated that the UK housing market has continued to recover slowly, since being re-opened as a result of the Coronavirus pandemic.

The figures show that 32% more properties were sold in the UK in June compared to May, demonstrating the continued recovery of the housing market.

However, it clearly demonstrates that the Covid-19 pandemic has produced the lowest quarterly totals seen in these reports.

Guy Gittins, Chestertons’ MD, comments:

“HMRC’s latest figures confirm that the housing market is continuing its rapid recovery, helped by the huge surge number of people that started looking to move after the lock-down was eased, and also by the recently-announced stamp duty holiday. Property prices have stayed surprisingly steady and our main concern now is that there are not enough properties coming onto the market to satisfy the current levels of demand.”

“Looking ahead, we expect that sales will continue to rise over the remainder of the summer and could recover to 2019 levels as early as September.”

Today's Conveyancer