Taylor Scott International News
Home sales in the UK have exceeded 100,000 per month for a fifth month in a row with buyers attracted by low interest rates and attractive mortgage products. The latest official transaction data from HMRC shows that the provisional seasonally adjusted UK property transaction count for October 2015 was 105,490 residential and 10,160 non-residential transactions. The seasonally adjusted estimate of the number of residential property transactions decreased by 0.2% between September 2015 and October 2015. This month’s seasonally adjusted figure is 6.3% higher compared with the same month last year. The data also shows that the number of non-adjusted residential transactions was 2.6% higher than in October 2014. Peter Rollings, chief executive officer of Marsh & Parsons, pointed out that October marks the fifth consecutive month that home sales have cleared 100,000, putting activity in a whole other league to the first half of 2015. ‘There has been a slight correction on a monthly basis, but we’re still head and shoulders above a year ago, as buyers ride high on the wave of low interest rates and attractive mortgage products,’ he said. He also pointed out that in London, supply and demand are moving in different directions. ‘We’ve seen the number of available properties for sale fall 5% during the third quarter of 2015 compared to a 4% boost in buyers over the same period,’ he explained. Taylor Scott International
Taylor Scott International, Taylor Scott
