First-time Buyers

Property market flattens out in June

Adam Williams
Written By:
Adam Williams

Property transactions remained flat in June but the market is still significantly ahead of 2013 levels, new figures have showed.

Seasonally adjusted data released by HM Revenue and Customs showed a total of 102,680 residential and 10,050 non-residential transactions were completed in the month.

This figure is down marginally on May’s total but 15.7% higher than the same month last year.

Raw figures showed 93,690 residential transactions were completed in England during the month, this compared to 9,370 in Scotland, 4,500 in Wales and 2,020 in Northern Ireland.

HMRC said trends in the data showed a ‘flattening out’ in the market since the start of the year.

“The trend since the beginning of 2013/14 has been of a general month-on-month increase in transactions for the seasonally adjusted data until February 2014, where there is a gradual decrease followed by a flattening out of transaction numbers,” it said.