Top 3 takeaways from HMRC’s latest property transactions data

HMRC released its latest monthly data drop, detailing UK property transactions, but what does it tell us about the health of the UK housing market? Here’s the top three things to take away...

1. No change in the number of residential property sales recorded from August to September – not even a 1% difference!

2. The number of residential property transactions in September was 37% lower than a same month a year ago, undoubtedly due to the supercharged activity in the Stamp Duty tax break.

3. 9,630 non-residential transactions were recorded in September 2022 (10% lower than September 2021 and 2% lower than August 2022).

We spoke to Conor Murphy, CEO and Founder, Smartr365 to learn more.

“The data reinforces why the property market is famed for its resilience. Despite a busy and complicated period for the mortgage market and economy, activity remains reassuringly consistent. The recent stamp duty tax cuts will also certainly help to spur activity despite economic strains elsewhere.

Conor continued: “The mortgage industry must fully commit to digitisation if it is to ride this uncertain period as smoothly as possible. Making the homebuying process as swift and stress-free as possible will not only ensure homebuyers can secure their desired property, at current rates, but also cut inefficiencies and reduce workloads during a busy time.” To learn why we’re the tech platform of choice for over 3,500 UK brokers, book your demo today.