Paul Stockwell, Chief Commercial Officer at Gatehouse Bank, comments on HMRC’s UK Property Transactions Statistics
“Property transaction figures continue to improve, and if they continue at this pace we could see the market restored to normal levels in the next couple of months.
“The stamp duty discount has inevitably been a big driving force behind buyers’ return to the market. With people rushing to meet the March 31 deadline, we could expect to see transaction levels hold strong for the remainder of this year.
“The market re-opened in May, and with the conveyancing process taking about 12 weeks on average, it could become clear as early as next month whether the market has met, or even surpassed, last year’s transaction levels.”