There were 88,690 residential property transactions in July – a slight monthly decrease, but 18.5% higher than in July last year.
The figure, from HMRC, is not only seasonally adjusted but provisional, meaning that it is a forecast subject to revision.
It is also in heavy contrast to the Land Registry’s latest monthly figure which says transactions in England and Wales during April were 48,367.
A gap of some 40,000 per month – and both are official figures.
Are EAT and our readers really the only ones to notice?
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Comments
Not all property is registered with HM Land Registry hence the disparity. Of course HMRC always get their kick back so their figures are more accurate one would assume. It also shows just how much foreign money is coming in. Builders in Central London are not building for us they are building for foreign investors. We might get the affordable housing if we are lucky - the quotas of course are being reduced yearly, to ensure the developers make the most money out of every square inch. Prices are out of this world on new build and so far out of the reach of most people now. The Government happily sit by and encourage it, one, for the stamp duty of course and the other to stoke the housing market with an election moving ever closer. If our house prices are going up - then we all feel richer - we arent of course, just poorer because we then borrow for things we cant really afford, which means the employers dont have to pay a living wage. So what's the answer? Rent ? No escape there I am afraid, the Government is covering that one also by handing millions over to developers and big business to build rented accommodation, managed of course by the big agents - result - out of this world prices.
Look at your payslip.
You are paying for this shite.