By Legal Futures Associate Search Acumen [1]
The latest UK monthly property transactions data [2] shows that the provisional seasonally adjusted estimate of UK residential transactions in September 2021 is 160,950, 68.4% higher than September 2020 and 67.5% higher than August 2021
Andy Sommerville, Director at Search Acumen, says: “These latest figures reflect the ambition of homeowners to get property transactions over the line whilst the stamp duty financial incentive still stood. Compared to the start of the year, the property market has begun to level out but remains incredibly active. Demand is still very strong and we expect it to fuel activity in the housing market well into Autumn and beyond.
“We have seen first-time buyers, moves by families and those looking to move into properties outside of cities carrying the weight of the market and taking benefit of savings due to the stamp duty holiday.
“Throughout the year, many lawyers have embraced digital ways of working in order to deliver efficiencies to the transaction processes and avoid burnout. Given the foreseeable levels of high demand, a long-term and sector-wide shift towards digitisation is needed if we are to accommodate speedier transactions and improve services to buyers in the long run. “