The provisional seasonally adjusted count of residential property transactions totalled 101,830 in March 2019, 6.8 per cent more than in March 2018, latest figures revealed.
In its UK Property Transactions Statistics March 2019, HM Revenue & Customs (HMRC) found that the number of transactions did not only see year-on-year growth, but the figure was also 1.4 per cent higher than in February 2019.
Commenting on the figures, OneSavings Bank sales director Adrian Moloney highlights that transactional activity in the property market is still increasing, even if it is “slight”, despite ongoing uncertainty.
“The number of first time buyers getting onto the ladder, for example, has seen an uptick in recent months according to recent UK Finance data. As uncertainty continues to be the order of the day, prospective buyers will be understandably cautious.
"But, with ONS data showing house price growth at a six year low, there could be an opportunity to pick up some good deals,” he concluded.
The data found that, even on a non-seasonally adjusted basis, UK residential transactions in March 2019 were approximately 0.4 per cent higher than March 2018.
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