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%.