“UK Housing market has remained broadly resilient in 2017”

Revealing the monthly estimated figures for both residential and non-residential property transactions, HMRC property statistics for November 2017 have been published today.

Showing data for the UK and its constituent countries, the publication is based on data from both the HMRC’s Stamp Duty Land Tax (SDLT) and the Scottish Administration’s Land and Buildings Tax (LBTT) databases.

For November 2017, the provisional seasonally-adjusted UK property count was 104,200 residential and 11,150 non-residential transactions.

Residential Transactions

On a seasonally adjusted basis, the estimate for the number of residential transactions grew by 0.6% between October 2017 and November 2017. The seasonally adjusted figure is 7.1% greater than the correspondent month in 2016.

Where non-adjusted transaction levels are concerned, the figure recorded for November 2017 was around 0.4% lower than October of this year. In comparison to November 2016, however, the number of non-adjusted residential transactions this year was 6.1% higher.

Non-residential Transactions

For non-residential property transactions, the seasonally adjusted estimate grew by 5.2% between October 2017 and November 2017. In comparison to the corresponding month last year, the figure for 2017 was 5.0% greater. As can usually be expected with the seasonal nature of purchases, non-adjusted transactions have observed peaks and falls on a monthly basis.

Commenting on the statistics was Doug Crawford. The CEO of My Home Move highlighted the robustness of the market despite the numerous ups and downs.

“Against the odds, the UK’s housing market has remained broadly resilient in 2017. Last month saw a 7% uptick in transactions compared with the same month last year, placing the market in good footing for the challenges that 2018 may bring.

“Whilst many buyers rush to complete in time to put up the Christmas tree, some market hopefuls are still finding tough conditions, as demand continues to outweigh supply.

“Phillip Hammond’s recent focus on housing will only strengthen demand in 2018 and it is up to the industry to ensure it is met with sufficient stock.”

The full dataset can be accessed here.

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