The latest news for the property market

HM Revenue and Customs have released their latest data on property transactions.

This data shows that the number of property transactions decreased between the months of April and May 2021. UK residential property transactions fell by 3.9% between the two months. On the other hand, non residential property transactions actually increased by 8.7% during the same period.

HM Revenue and Customs have stated that the figures have reflected some of the positive impacts of the stamp duty holiday and the land transaction tax holidays.

While the figures have slowed month on month, the figures are still much higher than the figures from the same point a year ago.

Sam Mitchell, CEO of Strike have said that despite figures slowing for the second month in a row, they are still a lot higher than pre pandemic levels. Both buyers and sellers are still scrambling to complete before the stamp duty holiday ends.