0800 060 8698 info@glenigan.com

Request a Call

We encourage you to read our privacy and cookies policy.

The drop in transactions follows an earlier spike in March as buy to let investors added properties to their portfolio prior to the introduction of a stamp duty surcharge on buy to let and second homes. 

Residential Property Transactions

The limited recovery in transactions to date suggests that buy to let investors remain less active in the market. The outcome of the Brexit vote is unlikely to have had a significant impact on transaction levels in July and August as most of the sales would have been agreed prior to the vote.

However the latest data released by the British Bankers' Association signals a further weakening in property transactions during the autumn. The BBA reports that British banks approved 36,997 mortgages for house purchases last month, down from 37,672 in July and 21 percent lower than in August last year.

In contrast the flow of private housing projects securing detailed planning approval has remained strong. Glenigan recorded a 27% rise in the value of private housing approvals during the 12 months to August against the preceding 12 months. A protracted weakening in transaction levels in the wider housing markets is likely to dampen new house sales and may prompt developers to push back their schedule for opening up new sites.  



Not a Glenigan Customer?

Request a free demo of Glenigan today so we can show the size of the opportunity for your business.