HMRC: Residential property transactions down 35.9%

The number of UK property transactions in June was 68,670 which is 35.9% lower than in June 2019 however 31.7% higher than figures recorded the previous month, according to the latest UK Property Transactions Statistics by HM Revenue & Customs (HMRC).

The number of non-residential property transactions in June was 7,340, which is 27.4% lower than June 2019 and 31.2% higher than figures recorded in May.

According to the HMRC, the second quarter of residential transactions in 2020 is the lowest quarterly total recorded in the series, which reflects the impact of COVID-19. Following a “generally upward” trend in transactions from late-2013 until early-2016, non-residential transactions have “plateaued” until the most recent provisional data.