The HMRC property transactions data reports 94,550 residential and 9,820 non-residential transactions.
However the introduction of the 3% additional stamp duty tax caused a large increase in transactions for March followed by a "substantial reduction" in the following months.
HMRC added that "non-tax factors may have played a role as well, for example the Bank of England's plans to curb buy-to-let mortgages resulting in a rush to purchase before April 2016, and the EU Referendum affecting transactions in recent months".
For July 2016 the number of non-adjusted residential transactions was about 0.7% higher compared with June 2016. The number of non-adjusted residential transactions was 13.6% lower than in July 2015.
Stephen Smith, Director, Legal & General Housing Partnerships, commented: “Whilst there has been a slight fall in transactions this month, we shouldn’t jump to any conclusions and pin the blame entirely on the vote to Brexit. Though some buyers may have held off on purchasing a property ahead of the referendum, it’s important to remember that transactions have remained static for some time now, and that the seasonal lull we typically see over the summer months is also likely to have played a role.
“What these figures really highlight is the ongoing imbalance in supply and demand that is plaguing our housing market. We are simply not building enough homes to meet the growing demand for property as more and more people look to become homeowners. It is imperative that the promises we have heard from those in power become a reality. Only then will we have a chance of helping future generations get on the property ladder with ease, rather than struggling as they are right now.”
