Business

Property sales confirm static market, HMRC data shows

Houses Image copyright PA

UK property sales topped 100,000 for the third month this year in July - but were almost identical to a year ago.

A total of 107,500 homes were sold during the month, data from HM Revenue and Customs (HMRC) shows.

This follows 100,000-plus sales in March and June but, in general, activity in the UK housing market is relatively static.

Sales were slightly higher than July last year but lower than the same month in the previous two years.

Earlier this month, the Royal Institution of Chartered Surveyors said its members believed that a slowdown in the market was spreading from London to other parts of the South East of England.

A lack of demand coupled with a shortage of homes for sale has kept UK house prices relatively steady on average in recent months.

Figures published by the Office for National Statistics (ONS) figures suggested that, while average prices were relatively unchanged, there was a wide variation in price movements across the UK.


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