House buying falls ‘dramatically’

House buying volumes have dropped “dramatically” compared to last year, according to the latest HMRC figures, as the market feels the absence of the stamp duty holiday. Residential deals in April plunged nearly 14% in comparison with 12-months ago, and are 10.5% lower than in March, according to the government’s latest data. Meanwhile, non-residential transactions, which can include six or more residential properties bought in a single deal, fell 7% year-on-year and 16.7% in comparison with last month. 

City AM (24/05/2022)   The Independent (24/05/2022)   The Sun (24/05/2022)