According to HM Revenue and Customs data, the figure was 3% down on the same month last year.

HMRC attributed the change to last year’s Stamp Duty holiday: “The trend over the past eighteen months is broadly flat, with a peak and trough in March and April 2012 caused by the ending of SDLT first-time buyer‘s relief.

“Since April, the seasonally adjusted number of transactions has risen for ten consecutive months back to the level seen prior to the ending of the relief.”

In contrast to 2013’s subdued mortgage lending figures, this year HMRC data has indicated a month-on-month increase in property transactions.

In Scotland, the number of transactions (not seasonally adjusted) jumped by 52.7%, while England and Wales both saw a rise of over 22%.