HMRC: Duty cut yet to impact buying data

Myriam Toua in the Sunday Express analyses the property market and price activity since the sector reopened after the coronavirus lockdown. Provisional HMRC data shows that more than 70,000 properties were sold throughout July, marking a 14.5% increase on June – but data on prices has yet to show clearly whether there has been an increase. Nationwide’s July property index, which is based on mortgage lending, reported a 1.7% month-on-month increase, while Halifax reported a 1.6% increase. While the Chancellor has introduced temporary cuts to stamp duty, HMRC says the move is unlikely to impact on buying figures until late August or early September.

Sunday Express (30/08/2020)