Read the latest news from the team at Martyn Gerrard

< Back to all articles

First up-tick in transactions in over a year

The first up-tick in transactions in over a year


 
  • There were 101,780 residential transactions recorded (on a seasonally adjusted basis) in February across the UK, according to the HMRC. This was the highest level since August 2017.
 
  • This figure is still provisional, but if confirmed will mean that the annual change in transaction levels has moved into positive territory for the first time in over a year.
 
  • This is perhaps surprising given the uncertainty caused by Brexit with much speculation about a market slowdown, although there will, of course, be regional variations.
 
  • Although buyers will understandably be cautious, pent-up demand is building and some, who may have been waiting for clarity are prepared to commit.
 
  • The confirmed Brexit delay until later in the year may actually provide a window of activity. Time will tell whether this translates into sales levels showing further improvement over coming months.