SearchFlow responds to HMRC transaction figures

Print This Post

21 September 2016


Searchflow 200x200HMRC reports no change in residential property transactions between July 2016 and August 2016, although it is 6.1% lower compared with the same month last year. However, commercial property transactions have increased by 6.1% between July 2016 and August 2016 and is 8% higher than this time last year.

Greg Bryce, managing director of SearchFlow, comments: “Despite Brexit and the seasonally anticipated lull in housing market activity, transaction levels have remained resilient and there was negligible change over the summer months.”

“With interest rates at a historically low level and many mortgage providers passing on the reduced rates onto their long term fixed mortgages, unemployment levels remaining low and demand for housing outstripping supply, the housing market remains in a strong position.

“Our latest conveyancing sentiment survey reveals that the industry is positive about the health of the property market. The clear majority, 60% of respondents believe that the number of transactions will remain the same for the next quarter, 30% believe transaction levels will increase by 1-10% and 14% of respondents believe it will increase by 11-20%.

“The activity in the commercial market is particularly buoyant with a 6.1% monthly increase, which is 8% higher than this time last year. This trend is reflected in our figures. With a 12% increase in commercial activity in the last month, we have seen this sector buck the trend of the traditionally quieter period and there is clearly a post Brexit bounce in activity.”



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



Leave a comment

* Denotes required field

All comments will be moderated before posting. Please see our Terms and Conditions

Legal Futures Blog

GDPR and the rise of ‘datanapping’ – the new threat to the pockets of law firms

Nigel Wright

You’ve heard about ransomware – a hacker infiltrates your IT systems, locking them down until you pay a ransom. Some studies now estimate that over 50% of businesses have experienced this type of attack in the last year, and it’s particularly prevalent within the legal sector. Previously, firms could protect themselves by having a solid disaster recovery plan in place to ensure they can get back up and running in the event of a disruption. However, the General Data Protection Regulation (GDPR) – the new EU-wide regime which comes in effect on 25 May 2018, irrespective of Brexit – means that this approach alone is no longer adequate and security measures must be strengthened to prevent attacks.

April 21st, 2017