Property sales down 8.8% from last year

by Property118.com News Team

10:24 AM, 25th July 2018
About 5 months ago

Property sales down 8.8% from last year

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Property sales down 8.8% from last year

HMRC have released their monthly UK property transaction count for June 2018 and the number of non-adjusted residential transactions was 8.8% lower than in June 2017.

Whilst many landlords are paying more tax due to Section 24 mortgage interest relief restrictions, and their costs from increased regulation are rising, less rental property is being purchased.

The Government is destabilising the housing market and the reality of these figures are that they’re helping no-one other than trying to satisfy more voters to keep them in power.

Rents are rising, less rental homes are available and HMRC revenues are actually down, but our customers, tenants, are the REAL losers.

The protests from so-called tenant support groups is ‘deafening’!

The HMRC report (click here to see the full report) indicates the seasonally adjusted estimate of the number of residential property transactions decreased by 3.0% between May 2018 and June 2018. This month’s seasonally adjusted figure is 5.7% lower compared with the same month last year. The Chart below shows the historic time series for residential property transactions.

Press@property118.com



Comments

NW Landlord

11:53 AM, 25th July 2018
About 5 months ago

Disgusting what they have done to our industry

Hemant Shah

22:46 PM, 25th July 2018
About 5 months ago

George Osborn who created problem and ultimately left his job as chancellor or has been kicked out by the Prime minister.
Real down turn in the market is to come in coming months.
Be alert

Whiteskifreak Surrey

13:13 PM, 9th August 2018
About 4 months ago

Reply to the comment left by Hemant Shah at 25/07/2018 - 22:46
So what? He is earning millions from 8 jobs he has. And Hammond (The Spreadsheet Phil) who seems to have a bit more common sense, is carrying on with that disaster. City am is writing about a crisis today, too: http://www.cityam.com/290512/striking-reduction-properties-forcing-rents-up-claims-ric


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