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UK monthly property transactions commentary

ended 31. January 2025

The following data has just been published by the ONS. Any thoughts, whizz them across pronto as this always gets picked up.

  • the provisional seasonally adjusted estimate of the number of UK residential transactions in December 2024 is 96,330, 19% higher than December 2023 and 3% higher than November 2024
  • the provisional non-seasonally adjusted estimate of the number of UK residential transactions in December 2024 is 98,120, 15% higher than December 2023 and 7% lower than November 2024
  • the provisional seasonally adjusted estimate of the number of UK non-residential transactions in December 2024 is 9,850, 3% lower than December 2023 and 4% higher than November 2024
  • the provisional non-seasonally adjusted estimate of the number of UK non-residential transactions in December 2024 is 10,450, 3% lower than December 2023 and 7% higher than November 2024

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Editor
Dariusz Karpowicz
Director at Albion Financial Advice
Talk about a December surprise! The UK property market showed remarkable resilience with residential transactions jumping 19% compared to December 2023, suggesting many house hunters finally decided to take the plunge rather than play the waiting game for lower mortgage rates that never materialised.
While the commercial property sector tells a slightly different tale with a modest 3% dip year-on-year, the overall picture shows the market finding its feet again. The seasonal data particularly catches the eye, with 96,330 residential completions marking a steady 3% climb from November - not too shabby for what's traditionally a quieter month when everyone's more focused on mince pies than moving house.