Transactions Total 87,010 in August 2023UK residential transactions totalled 87,010 in August 2023 (seasonally adjusted), according to provisional estimates from HM Revenue & Customs (HMRC). This is up 1% from July and marks the third consecutive month-on-month rise. However, transactions were 16% lower than August 2022.
These latest data indicate that market activity has improved further since July. However, it’s more likely that transaction volumes will fall again in the coming months given the recent drop in mortgage approvals.
Monthly transaction volumes and monthly/annual change, UK
Source: HMRC, September 2023
Disclaimer: CBRE's Residential Rapid Response provides timely analysis and commentary of the latest residential market data releases.
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