Property sales decline in April

Data from HMRC shows that the number of houses sold in the UK has fallen. Across the UK, 82,120 transactions were estimated to have taken place in April, marking a 25% drop compared with April 2022. At 67,220, residential property sales were also 8% lower in April 2023 than in the previous month. HMRC's report said the drop in sales between March and April “appears particularly large”. It said: “The number of transactions in March was high due to a combination of factors including a larger number of working days relative to April and the final month for purchases to be completed under the Government's Help To Buy equity loan scheme”. Andrew Montlake, managing director of the mortgage broker Coreco, said that while buyers have been “returning and getting used to the new mortgage rate environment", the fact that loan rates are starting to increase again “will undoubtedly have an effect on buyer affordability, mortgage choice, and therefore transaction levels going forward".

City AM (31/05/2023)   Daily Mail (31/05/2023)   The Daily Telegraph (31/05/2023)   The Independent (31/05/2023)