Search Acumen comments on today’s HMRC property transaction figures, March 2017

Print This Post

21 April 2017


Search AcumenAndy Sommerville, Director at Search Acumen, comments:

“Housing transactions reached their highest point last month since the headlong rush to beat the introduction of the stamp duty surcharge twelve months earlier in March last year. A modest monthly rise from February 2017 nonetheless shows that a recovery in the residential property market is underway, with seasonally-adjusted transactions topping 100,000 for three successive months. This is just what the industry needs as the UK enters another potentially turbulent few months in the lead-up to the snap election on 8th June.

“The market for commercial property transactions had a slightly rougher ride with March transactions down by almost 4% from the previous month. The total of 10,390 non-residential transactions was a five month low, but nonetheless beat the total of 10,030 from March 2016.

“The diverging paths followed by residential and non-residential transaction figures bring to light the resilience of the home-buying market as a result of extremely high demand and the contrasting vulnerability of the commercial market when economic uncertainty hits. The industry should ensure necessary steps are being taken for an affordable and sustainable market and that the commercial market is supported.”



Associate News is provided by Legal Futures Associates.
Find out about becoming an Associate

Tags:



Legal Futures Blog

How to protect your firm from ransomware

Adam Curtis Hoowla

One news item has dominated the headlines over the last week – cyber-attacks and, in particular, the WannaCry ransomware. It is a well-known and well-documented fact that the legal industry, and conveyancing in particular, can be a vulnerable and high value target. This ranges from property hijacking – where fraudsters pose as legitimate owners of a property and sell it on without the real owner’s knowledge – to ‘Friday afternoon fraud’, with criminals contacting a busy law firm to ‘update’ their bank details to redirect funds.

May 22nd, 2017