Property transactions decline thanks to lack of stock

Residential property transactions fell by a fifth in January compared with the previous month amid shortages in homes for sale. More than 85,000 properties changed hands last month, the latest figures from the Treasury show. There were 22% fewer transactions than in December and 13% fewer than in January 2021. However, the figures for the start of the year were 7% higher than the January average for the three years before the pandemic. The supply of homes for sale is thought to be about 10% below the average across 2017 to 2019.

The Times (23/02/2022)