LiveMore comments on latest HMRC property transactions data

Simon Webb, managing director of capital markets and finance at LiveMore, comments on latest HMRC property transactions data.

“Although the non-seasonally adjusted residential housing transactions in May were 10% higher than April, the seasonally adjusted figure is 3% lower.

“Compared to last year transactions fell by a quarter reflecting the overall slowdown in the housing market.

“This subdued housing market is also evidenced through falling house prices from the highs of a year ago, more properties are for sale in the market but there are fewer buyers.

“In addition, some vendors are lowering their original prices to attract buyers who are reconsidering their purchase decisions in light of higher mortgage rates.”

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