UK Residential Transactions Dropped by 3 Per Cent in Dec

The UK housing market slowed again in December, according to the latest government estimates. Residential transactions dropped to 108,960, down 3 per cent compared with November and 1 per cent on December 2021 said HMRC, the UK Revenue and Customs department. The provisional figures tally with other views of UK housing market, which show a steady decrease in transactions in recent months.

HMRC also said the number of non-residential transactions in the UK in December was 10,810, which is 5 per cent lower than a year earlier, but 9 per cent higher than November. Non-residential includes commercial property and agricultural land. Also, six or more residential properties bought in a single transaction would be considered a non-residential transaction. The figures are provisional and will be updated in the coming months, HMRC said.