Search Acumen comments on HMRC Number of Property Transactions, December 2016
Andy Sommerville, Director at Search Acumen, comments:
“Despite activity being 8.5% lower than 2015, data for December has revealed a steady end to the year with a 0.2% month-on-month increase in residential property transactions. After a turbulent year in the property market we can certainly be grateful for the state it enters 2017, in comparison to what so many forecasted.
“This stability is further bolstered by non-residential activity in the month lying 6.2% higher than the year prior. The commercial market was fully exposed to the wrath of Brexit uncertainty yet it has stepped up to the challenges of the last twelve months resiliently.
“This being said, the state of the housing market remains relatively bleak for many and although receiving small gains in activity, slow and steady will not win the race to its recovery. Action is needed now and the sector eagerly awaits the government’s Housing White Paper to see how growing buyer confidence is met with greater supply of affordable homes.”
This article was submitted to be published by Search Acumen as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.