Residential Research

HMRC Transactions up in February

UK residential transactions totalled 82,940 in February 2024 (seasonally adjusted) according to provisional estimates from HM Revenue & Customs (HMRC).

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Transactions Total 82,940 in February 2024

UK residential transactions totalled 82,940 in February 2024 (seasonally adjusted) according to provisional estimates from HM Revenue & Customs (HMRC). This is up 1% from January, while 6% lower than February 2023.

The rise in transactions is likely starting to reflect the recovery in mortgage approvals, which have increased consistently since September 2023. We expect sales volumes to continue recovering reflecting an improving backdrop and a recovery in housing market sentiment.

Monthly transaction volumes and monthly/annual change, UK


                                                                 hmrc_chart
Source: HMRC, March 2024

Disclaimer: CBRE's Residential Rapid Response provides timely analysis and commentary of the latest residential market data releases.
 

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