[1]Andy Sommerville, Director of Search Acumen [2], comments on the HMRC UK property transactions data [3] for June:
“A 16-month high for transactions in June is a welcome sign that the property market is bouncing back after a shaky start to the year. Having announced extra measures this month to improve the planning process and increase housing supply in the long term, the government will be relieved to see signs of renewed life in the property market so soon after the election.
“Positive indicators such as a 3.2% annual rise in wages¹ should help to build momentum in the second half of the year. There is a renewed sense of optimism in the market, and home buyers will be keen to take advantage of the low interest rate environment while it lasts.
“Having seen monthly transactions back above 100,000 for the first time since September last year, conveyancers can expect a busy second half of the year. The race is on to hit business targets and those firms who have used the quieter period to strengthen their proposition will be best placed to benefit.”