Weekly Economic and Construction Update – 2 June 2023

Weekly Economic and Construction Update – 2 June 2023

Date Published

5 June 2023

Document Type

Category

Author

TDUK

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Summary

There were 82,120 residential property transactions in the UK in April 2023, which is 7.9% lower than in March and 25.1% lower than a year earlier according to HMRC, as the sharp fall in mortgage approvals in 2022 Q4 and subdued approvals in Q1 continues to feed through.

The number of UK residential property transactions in April 2023 was also 14.8% lower than in January 2020, pre-pandemic, before the ‘race for space’ and stamp duty holidays and whilst Help to Buy was still in place.