Our Chief Commercial Officer, Paul Stockwell, comments on HMRC property transactions data for November 2020
![Our Chief Commercial Officer, Paul Stockwell, comments on HMRC property transactions data for November 2020 Our Chief Commercial Officer, Paul Stockwell, comments on HMRC property transactions data for November 2020](https://images.gatehousebank.com/production/images/content/Paul-Stockwell.jpg?w=560&q=75&auto=format&fit=crop&dm=1710181153&s=252f3ee794b7581f6113d1f5dd84c2b1)
“The UK property market has undergone an incredible turnaround this year. In the space of seven months, sales volumes have rebounded from the lowest level since records began to a five-year high in November.
“The latest data shows mortgage approvals still running at a 13-year-high so, while it’s widely accepted that the bumper house price growth we’ve seen this year must cool as we enter 2021, a decline in the number of transactions is by no means assured. Annual growth in sales volumes has actually accelerated, more than doubling in the space of a month, which is excellent news for the property market as a whole.
“It is entirely possible that volumes hold up next year, even as valuations cool after a glut of activity fuelled by the stamp duty holiday and a widespread desire to move to larger homes after repeated lockdowns.”