September HPI reveals yearly transaction growth

The latest HM Land Registry HPI has revealed a growth in annual property transactions.

According to the September Housing Price Index, there has been an increase of 4.6% in the number of seasonally adjusted transactions on UK properties year-on-year.

However, when compared to August, the transaction volume actually saw a fall of 1.8%.

The report does not include sales volumes figures for August and September due the time between completion of sale and registration. As such, they have not yet reached a reliable level for reporting.

Yearly statistics for July are however available, potentially giving an indication of the trend going forward.

In England, July saw an annual drop of -17.1% in sales, falling to 64,592. Whilst the constituent countries also saw a decline in sales, the drop was not quite so steep.

Scotland’s July sales dropped by -5.7% year-on-year to 8,725, whilst the number of sales in Wales fell by -11.3% to 3,599 over the same period.

The July HPI also revealed that the average price of a UK property was £226,367, whilst the annual price change was recorded at 5.4%. Month-on-month, this was recorded at 0.4%.

The figures can be accessed here. 

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