Search Acumen comments on HMRC transaction data for August
Andy Sommerville, director of Search Acumen, comments on the HMRC UK property transactions data for August:
“There is much cause for optimism to see seasonally adjusted property transactions hit their highest point in more than 18 months, since before the introduction of the Mortgage Market Review in April 2014.
“We’re hopeful that rising wages, further economic growth, low levels of inflation, and low interest rates – which now look likely to continue until Christmas at least – will all propel further buyers to the market. However, there remains a slight uncertainty* over whether the intent to buy will remain strong over the next few months.
“At this point, no one wants to see fall-throughs in transactions. Conveyancers experienced their busiest Q2 of the post-recession era, but can’t afford to wait for business to walk in through the door; instead, they need to hone their competitive edge by offering top-notch service to draw in buyers and introducers.”
*Knight Frank/Markit House Price Sentiment Index (HPSI) – September (Link)
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