Year-on-year rise in 2020 house sales

January 6, 2021 by Brendan O'Neill

Property Market

New figures that have been published by HMRC reveal that there was a rise of 19.3% in the number of house sales that went through at the end of last year, compared with the total for the same period in 2019.

November of 2020 brought a total of 115,190 home-buying transactions, marking an increase of nearly 20% in comparison to the figure for November 2019. Without seasonal adjustment, the number of house sales for November last year represented a rise of 13.2% compared with that of the same month in 2019.

The November 2020 house sales total also represented an increase on that of the month before, rising by 8.6% compared with October – 3.2% without seasonal adjustment.

Speaking to Financial Reporter, Chief Executive of the SPI Capital asset management firm, Anna Clare Harper, said:

“The increase in residential property transactions – 19.3% up on November 2019 and 8.6% up on October 2020 – is good news for the property market and reflects positive forces that are applying uniquely at this time.”

Harper went on to point out that, due to a dip of close to 50% in the transactions that took place during lockdown in the spring, the total for the whole of last year was still considerably lower than that of previous ones.

She concluded by saying that the stronger figures for late 2020 should be viewed as the housing market recovering, rather than booming.

This is still encouraging news as we begin a new year, especially for those who are currently completing CeMAP courses.