Latest News From My Home Move - the UK's leading conveyancer
21 June 2016
Doug Crawford, CEO of My Home Move, comments on today’s HMRC property transaction figures, revealing that sales are still subdued
“The residential property market remains subdued following a 1.4% increase in the number of transactions between April and May. The latest figures show that sales are still struggling to equalise following the surge in transactions pre-Stamp Duty deadline, alongside a slip in consumer confidence caused by the forthcoming Referendum vote.
“The looming EU referendum means would-be buyers and sellers are keen to avoid any uncertainties caused by a surprise outcome. However, in the mid to long-term we expect the market to bounce back. Ultimately, high levels of demand for both rental and owner-occupied accommodation will drive transaction figures upwards, with our recently published forecast predicting the number of property transactions will rise by 7% this year and by 20% by 2020.”