Residential property sales hit eight-year low in January

Residential property sales in January reached their lowest level since 2013, with only 82,000 transactions recorded, according to data from HMRC. This represents a 12% decrease compared to the previous year. However, it is worth noting that January typically sees a decline in sales, usually between 20% and 30%. On a positive note, seasonally adjusted residential transactions showed a month-on-month increase for the first time since August 2023. Despite this, the figure remains the lowest for January since 2013. The lack of new homes entering the market has created a stalemate for transactional mobility.  

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