Much is made of house prices by the media, experts and indeed the public yet volume of transactions is also a very important measure of the market and its health.
In recent years around 1.1million homes are sold each year which equates to about 90,000 each month. Today’s transaction numbers from government (HM Revenue) show that 46,440 residential properties completed sale in April. This is 53% down on April 2019 and 46% lower than March 2020.
We thought it would be lower, much lower frankly especially given the fact that removal firms were closed as were estate agents until last week and lawyers were hesitant in exchanging contracts through fear of completion dates not being viable.
Is this a sign of the robustness of the UK spirit as a rather intentional, determined home-owning nation?