The latest data and analysis from HMRC has revealed that the decisive outcome to the General Election at the end of the year helped to ignite a surge in market activity.
According to the figures, seasonally adjusted estimates of UK property transactions for December 2019 were 104,670 residential and 10,690 non-residential transactions. Residential transactions in December 2019 were 6.8% higher than the same month a year earlier and 6.2% higher than November 2019.
Non -residential transactions in December 2019 were fractionally higher (0.8%) than December 2018, and 13.4% higher than November 2019.
Gareth Lewis, commercial director or property lender MT Finance said, “The back-end of the year saw an increase in activity and purchases after the general election as a lot of transactional flow held off until after the result was known. Estate agents and lenders were extremely busy as people were keen to get on with things.
“There is positivity around transactions and market sentiment that we haven’t seen for a while – maybe we are seeing the green shoots of spring appear a little earlier than usual.”