BREAKING UK PROPERTY NEWS: SUMMER TRANSACTIONS ARE UP, BUT FOR HOW LONG?
“UK residential transactions totalled 114,440 in August, up 9.7% when compared with last year and 4.4% higher than the previous month, the latest government data on property transactions has highlighted”
Our data found, compared to August last year, property searches are up about 7% and compared to July this year, we saw a 1.4% increase, not quite as high as the HMRC statistics found but positive for the market nonetheless. (calculated using the data from UK property portal giant).
Avinav Nigam, co-founder and COO of IMMO, said “The increase in August, however, is down to the buoyant market in the spring when interest rates were lower, and those pre-agreed deals being transacted now.”
Furthermore, the state of the UK market “successive interest rate increases, the affordability crisis, spiralling house prices, and talks of a recession” are likely to hurt transaction numbers in winter. ”
Would you like to know if your searches followed the trend? Or maybe you want to learn more about how to benefit from this seasonal peak - reply below and we can send you your Google search report free of charge.
Sources: Mortgage IntroduceRoar Google Visibility Dashboard.