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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.”