House sales up by 7.6% in August

House sales increased by 7.5% in August, according to HM Revenue and Customs figures. An estimated 104,980 housing transactions took place across the UK in August, which was 1.1% higher than in July and 7.6% up compared with August 2021. A stamp duty holiday, which ended last year, distorted the year-on-year figures. Peaks in house sales were recorded in June and September last year as the “nil rate” stamp duty holiday bracket was gradually reduced, as the break was phased out, and home buyers rushed to complete deals to maximise stamp duty savings. The HMRC report said: “August 2021 was between two transaction peaks in June and September 2021, causing unseasonal patterns during that period.” 

Daily Mail (21/09/2022)