Residential Research
HMRC Property Transactions Fall Further in November
UK residential transactions totalled 80,780 in November 2023 (seasonally adjusted), according to provisional estimates from HM Revenue & Customs (HMRC).
Transactions Total 80,780 in November 2023
UK residential transactions totalled 80,780 in November 2023 (seasonally adjusted), according to provisional estimates from HM Revenue & Customs (HMRC). This is down 1% from October while 22% lower than November 2022.These latest data indicate that market activity remains muted, with the lowest number of transactions recorded since October 2021. We expect that transactions will continue to trend lower in December but may rebound in the new year as lower mortgage rates serve to bolster demand.
Monthly transaction volumes and monthly/annual change, UK
Source: HMRC, December 2023
Disclaimer: CBRE's Residential Rapid Response provides timely analysis and commentary of the latest residential market data releases.
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