Andy Sommerville, director of Search Acumen, comments on the HMRC property transactions for September:
“The property market is in good health, experiencing steady growth as transactions creep up month-on-month. Looking closely at historical trends, we’re in an even better place: aside from February of last year – which was something of a one-off in terms of exceptional performance – the only time the market has seen higher monthly transactions than this September was way back in December 2007.
“Conveyancers should expect steady business levels, and with improving lending conditions we’re likely to see more buyers flock to the housing market. However, the need to address longer term supply-side issues remains the core challenge for policy makers. Brandon Lewis’s new target of a million new homes by 2020 is a challenging one, but the aspirations of future home buyers depend on the government’s ability to deliver on this promise.”