Latest data shows annual drop in transactions
The latest data has revealed that the number of completed UK property transactions has fallen by 12.9% compared to the previous year.
According to the most recent house price index, January 2018 saw transactions levels decline across all the UK’s constituent countries:
- In the year to Quarter 1 of 2018, Northern Ireland saw volumes drop from 5,187 in 2017 to 4,545 in 2018
- England saw the figure fall by 12% in the year to January 2018 to 50,583
- Scotland saw volumes decline by 7.4% over the 12 month period to January 2018 to 5,909
- Wales saw the figure drop by 7.3% over the year to January 2018 to 2,3834
It’s important to note that the estimate for January 2018 is calculated based on around 90% of the final registered transactions. It is likely that the number of transactions for the month will grow as more are put into the index.