Roughly half the number of house sales went through in June compared to last year. Across the UK, an estimated 95,420 homes changed hands in June, marking a 54.3% decrease compared with the 208,750 sales recorded in June 2021 according to HM Revenue and Customs (HMRC) figures.
HMRC said the figures should be treated with caution as transactions in June 2021 were significantly affected by the stamp duty holiday, which ended last year. It said there were large sales peaks in March, June and September 2021, caused by temporarily increased “nil rate” bands of property taxes.
The June total was also 7.9% lower than the number of transactions that took place in May this year. Andrew Montlake, managing director of mortgage broker Coreco, said: “Transactions are down significantly compared to June 2021 as last year’s data was skewed by the stamp duty holiday.
