The Housing Market Recovery Continues...
In this short article we take a quick look at the housing market recovery, whilst also looking at the year on year comparisons
- The housing market recovery continues. 70,710 transactions completed in July, 14.5% up on June. Numbers are still down on last year but the surge in new ‘sales agreed' will boost completions over the next few months.
- 8,930 more sales completed in July than in June. Although transactions are increasing, they remain below the yearly average, -27.4% below July 2019 and -28.2% below July 2018.
- In July, Rightmove reported the highest number of 'sales agreed' in any month since they started tracking the data, over 10 years ago. HMRC transaction figures will not show these sales until they complete.
- We expect to see an increase in sales completed in August and September, reflecting increased demand from the stamp duty holiday. Source: Dataloft, HMRC
