UK housing market is moving more slowly than a year ago, new figures show

Home / News / UK housing market is moving more slowly than a year ago, new figures show

UK housing market is moving more slowly than a year ago, new figures show

Lifetime news

Posted on: 25/06/2015

The UK housing market is moving more slowly than a year ago, a new survey by HM Recenue and Customs (HMRC) has suggested.

A total of 98,540 homes were sold in May 2015, seasonally-adjusted figures from HMRC show.

That figure is down 3% on a year earlier.

The first nine months of 2014 saw property being sold at the fastest rate since before the financial crisis.

Other data has predicted a modest pick-up in the housing market during the latter half of this year.

The HMRC figures cover properties sold for more than £40,000 across the UK.

Some 1.7 million homes were sold in 2006, at the height of the property boom. This then fell to 848,000 in 2009, but rose to 1.2 million last year.

In recent months sales have fallen back to below 100,000 a month.

Recent reports from the mortgage market – a precursor to sales – have suggested that there is likely to be a modest increase in activity later in the year.

Gross mortgage lending rose by 2% in May compared with April to £16.2bn, according to the Council of Mortgage Lenders (CML).

Are you ready to start your
financial journey?