Market Insight - June / July 2019
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Market Metrics

Transactions (HMRC)

Transactions are pretty flat in Great Britain. In the first quarter of 2019 there were -0.4% fewer sales than in Q1 2018 according to Land Registry. March was a little more promising, with a 0.4% year-on-year rise in completions in Great Britian, driven by a 2.0% annual increase in England. We expect transactions to remain similar to 2018 levels for the rest of the year.

Source: HMRC

Mortgage Approvals

Bank of England mortgage approvals, which are a good indicator of future transactions, showed a more resilient start to 2019. Mortgage approvals rose by 2.0% in Q1 2019 compared with Q1 2018. However, the increase was mainly driven by a 4.6% increase in re-mortgage activity compared with just a 0.1% rise in house purchase approvals. As uncertainty continues to linger, more households are choosing to stay put and re-finance rather than move.

Source: Bank of England

Sales

 

Source: Land Registry

House Price Growth (Q1 2007 = 1.0)

Source: Hamptons International & Land Registry 

Sold Above the Asking Price

Source: Hamptons International

Days to Sell

Source: Hamptons International

Economy Focus Market Metrics Lettings Sales

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