"January’s increase in transactions suggests a rebound in confidence, reflecting the ‘Boris Bounce’ and increased certainty around Brexit."
There were 102,810 residential property transactions recorded in January 2020 - 5.2% higher than January 2019 and 4.1% higher than December 2019, according to the latest HMRC statistics.
The figures show that non-seasonally adjusted residential transactions were approximately 12.7% higher than in January 2019.
Gareth Lewis, commercial director of property lender MT Finance, said: "January tends to be one of the quieter months for the housing market as people get back off their winter breaks and take a while to get going, so this jump in transactions bodes well for the spring market.
"The uptick in transactions is strong evidence that the Boris Bounce is in full effect. You can fall into a trap of over-egging the positivity that is around but now we are seeing it on paper. Sentiment has improved to the point where transactions are getting across the line."
Anna Clare Harper, co-founder of property fund Anglo Residential, commented: "January’s increase in transactions suggests a rebound in confidence, reflecting the ‘Boris Bounce’ and increased certainty around Brexit. The uptick in transactions also points to a release of pent-up demand and much-needed supply. This is great news for potential homebuyers, sellers and investors, as it both reflects and affects how easy it is to buy and sell."