Andy Sommerville, Director of Search Acumen [1], comments on HMRC Property Transactions June 2017 [2]
“While temperatures have soared this summer, the property market has seen only a gradual uptick in transactions during recent months. Factoring in seasonal adjustments leaves activity looking fairly flat, and it’s no coincidence that an unexpected election result has coincided with the first drop in monthly residential and non-residential transactions to below 100,000 and 10,000 respectively this year.
“Nevertheless, given the economic uncertainty, we’re still looking at a property market that has more strength and stability than many might have predicted a year ago following the result of the EU referendum.
“As we approach autumn and prospective buyers and sellers start to put their property plans back into action we could be set for an Indian summer of activity. Like Parliament, businesses may also be entering into a summer recess when it comes to purchasing property but there are legitimate hopes for greater certainty when government returns in Autumn.”