The number of sold properties fell last month, according to HMRC’s stamp duty statistics.
What the sold properties figures say:
The statistics compare the number of properties being sold in any given month. They have shown a 4.3% drop from August 2016 to September 2016. The report also suggested an 11.3% drop when comparing September 2015 and last month. In total, September 2016 saw 93,130 residential property transactions and 9,670 non-residential transactions.
Danny Luke, Quick Move Now’s managing director, commented:
The figures released by HMRC confirm anecdotal feedback we’ve received from estate agents all over the country, and our own experience of the property market in the last few months (link to fall through blog).
The property industry has weathered several major changes in the last few months. Stamp duty hikes, tax relief changes and the EU referendum have all had an impact.
Although the last month has not seen great figures, overall the picture may not as gloomy as it first seems. Annually, figures have been increasingly steadily since 2008, but have yet to return to the levels seen pre-financial crisis. We may see those figures continue to rise, or we may see more uncertainty. Where we go from here will depend largely on how the Government decides to tackle the challenges we’re now facing.
If you’ve got a property to sell and have been affected by the current market uncertainty, Quick Move Now could buy your property in as little as 7 days. From more information on how Quick Move Now could help you make your move, call now on: 0800 068 3366.