E&W Housing transactions June 2019
Based on Land Registry counts for England & Wales in June 2019, we estimate there were 77,000 transactions – a +10% increase on our (revised) estimate of 70,000 sales in May. That is the good news: however, a seasonal rise in sales volumes of +12.3% would be expected in June, based on data for the last eight years (excluding 2016), so the increase of +10% represents a -2.3% reduction in transactions on a seasonally-adjusted basis. This June 2019 total of 77,000 sales is lower than the 82,316 sales achieved in June 2018, which in turn was lower than the 87,416 transactions that occurred in June 2017. This clear trend highlights the scale of the problems facing the housing market – moving is now expensive making improvement in situ a cheaper option. Our summer peak is now much reduced.