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Drop in number of home sales

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
22/09/2017

Government figures show that there were 103,490 residential property transactions in the UK in August, down 0.5% on July.

Sales were up 6.6% compared to the year before but HMRC noted that ‘caution should be used making comparisons of transactions between August 2017 and August 2016, as some taxpayers may have changed their behaviour as they considered the result of the June 2017 General Election, and the EU referendum in June 2016’.

Gary Lynch, chief executive of GS1 UK, said the figures reflected a trend to improve not move: “The drop in home sales is far from good news for the UK economy but it provides a window of opportunity for home improvement businesses as people are clearly staying put,” he explained.

“Our research shows that the rise in homeowners choosing to make do and mend, inspired by a glut of property renovation programmes on TV, is driving demand for DIY products. This has led to a 150% jump in home improvement businesses registering with us year-on-year.”


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