Housing transactions are holding steady across Britain, with even London’s precarious property market experiencing an increase in mortgages for new purchases at the end of last year.
Official figures from Revenue & Customs showed that, on a seasonally adjusted basis, the number of residential property transactions rose by 1.3 % between December and January, 0.1% lower than January last year. Monthly transactions have barely moved for 12 months, hovering just above 100,000.
Separate data from UK Finance, the industry group that represents the nation’s lenders, found that 7,700 mortgages for home movers were completed in London between September and December, an 8.5% increase on the same quarter in 2016. First-time buyer mortgage completions were unchanged at 10,700.
