UK property sales hit new record in June

Property sales in the UK hit a new record level in June, according to figures from HMRC. An estimated 213,120 sales were completed during the month - more than twice the total in May. Some 428,620 house sales took place in the second quarter of this year - the highest quarterly figure since the third quarter of 2007 and the highest total for the second quarter of any year on HMRC's records. Experts say a rush to buy before the end of the stamp duty holiday fuelled the boom, but with demand outstripping supply, prices are expected to keep on rising. London estate agent Jeremy Leaf commented: "These figures clearly illustrate the frenzied rush to the finishing line for buyers to take advantage before the stamp duty holiday drew to a close. However, activity has reduced since, particularly in London where the savings were greatest. Early signs are that sales will be down significantly but we have noticed nearly all of our transactions are continuing with very few renegotiations. This leads us to believe prices will not be markedly different over the next few months." 

BBC News   The Times   City A.M.