The number of UK home transactions is estimated to reach 111,260 in April
UK residential transactions rose by 197.8% in April compared to 2020, according to data released by HMRC.
The government added that the significant increase could be due to the impact of the pandemic on the April 2020 figures.
That said, the number of UK home transactions reached an estimated 111,260 in April, the highest level for the month since 2007.
It was recently revealed that house prices across the UK rose at the fastest pace in March since just before the financial crisis hit in 2007.
The latest UK housing transaction data is likely to capture the positive impact of the ‘stamp duty holiday’ on stamp duty land tax and land transaction tax.
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Sam Mitchell, CEO of online estate agency Strike, commented: “While March saw a flurry of completions and exchanges ahead of the original stamp duty holiday deadline, property transactions eased in April; This is because the “extension” was given.
“But now, with only a few days left until the June deadline, and the countdown officially restarting, the pressure is mounting.In addition to the continued easing of lockdown regulations, offers of 95% mortgage deals Demand within the UK property market is likely to grow in the coming months.
“While some may be wary of the looming stamp duty deadline, there is no sign that this will disrupt the market. There are more than enough factors to keep the situation favorable, including the introduction of the government’s high-interest loan system.
