House transactions down amid 'stagnant' market

The number of residential property transactions dropped 3% between May and June to 96,370, according to data from HMRC, as the UK's stagnant property market shows little sign of picking up. House sales completions were 5.7% lower in June, compared with the same month last year. Kevin Roberts, director, Legal & General Mortgage Club, said: “Barriers to moving, such as stamp duty and the high price of property in our urban areas, means that for many the maxim remains ‘improve, not move’, as they seek to renovate or develop their homes, rather than move up the housing ladder.”

City AM (24/07/2018)   Daily Mail (24/07/2018)