July's seasonally adjusted property transaction statistics from HM Revenue & Customs (HMRC) suggest a mixed outlook for UK property, with falling residential purchases and renewed activity in the non-residential sector.
The statistics which are compiled by HMRC using Stamp Duty and Scottish Administration's Land and Buildings Transactions Tax (LBTT) data, reveal a 4.4 per cent decline in the total number of completed residential property transactions between June and July, although this figure remains marginally higher (at 0.2 per cent) than the corresponding period last year.
HMRC's seasonally adjusted estimate for non-commercial transactions in June shows a 4.4 per cent increase which is 8.8 per cent above the last year's level.
It is estimated 100,720 residential and 10,100 non-residential properties were sold over the period.
