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Residential transactions rise 216% to record high in June: HMRC

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The number of UK residential transactions totalled 213,120 in June, 216.1% higher than June 2020 and 108.5% higher than May 2021, according to the latest statistics from HMRC. The figure is the highest monthly UK total since the introduction of HMRC's statistics in April 2005. On a seasonally adjusted basis, transactions totalled 198,240, 219.1% higher than June 2020 and 74.1% higher than May 2021.

According to new data from HMRC, the number of home sales that completed in June set a new all-time record of 213,120, smashing March’s previous record of 174,060. This surge in completed sales was largely due to buyers rushing to beat the 30 June deadline for the end of tax holidays in all parts of the UK except Scotland, but still shows how active this year’s housing market has been. There is a further deadline at the end of September in England and Northern Ireland, and we expect another, smaller boost to the number of completed sales in that month.

2021 now seems certain to be the busiest year for home sales since before the 2008 financial crisis, beating 2016’s figure of 1.23 million there have already been well over 800,000 sales in the first half of the year.

Posted by MMB Finance Swindon on 21 July 2021