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Monthly property transactions rise in September - ONS

ended 21. October 2021

Data published by the Office for National Statistics this morning showed completed residential property transactions in September remains very strong.

In part, this was due to the stamp duty lag and but it also a result of the fact that changing housing preferences continue to drive transactions.

  • The report showed provisional seasonally adjusted estimate of UK residential transactions in September 2021 was 160,950, 68.4% higher than September 2020 and 67.5% higher than August 2021.

“Transaction levels in September had the madness of the summer stamped all over them”, said mortgage broker Lewis Shaw in Mansfield. 

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"Transaction levels in September had the madness of the summer stamped all over them. September was a solid month for us with above average transactions, mainly from first-time buyers as the stamp duty clan had packed up and gone home. So far this month, activity is broadly where we’d expect it to be with people wanting to be moved in by Christmas. On that note, this weekend is realistically the last chance to make offers to be in with a chance of moving in before Santa arrives."

"Like the British weather, the market is pretty unpredictable at the moment. You get the odd flurry of interest from buyers but overall there has been a decline in the number of people purchasing properties since the summer madness. With Christmas approaching, we expect to see a real slowdown, but this will be coupled with lenders fighting for business so there is a real chance we will see some excellent deals for those wanting to move over the winter."

"The property buying spree is over for now but I expect it to return at a feverish pace after Christmas in the build up to the next buying season. While the obvious drop-off from levels seen earlier this year was inevitable, demand within the housing market has remained strong as people continue to evaluate what property features are important to them in this new world in which we now live. Demand for larger properties and more outside space continues to be at its highest levels, however with rising property prices many are finding themselves trapped and unable to afford the step up to their next home, which hasn't helped an already cooling property market."