According to the data, residential property transactions reached 103,680 in October, an annual rise of 4.2%. Taking seasonal adjustments into consideration, this equates to a 4.3% rise when compared to October 2018 and also 4.3% higher than in September 2019.
Gareth Lewis, commercial director of property lender MT Finance, says: "It is positive to see a marginal uplift in property transactions, particularly as there was an element of stagnation creeping into the market at the back end of the summer. There is activity in the marketplace, especially over the past couple of weeks, when we have seen a spike in transactions.
There is nothing like an approaching year-end to focus the mind and spur people on to get things done. There is a bit of a buzz around as people try to close transactions by the end of the year. There was a worry that things would slow down dramatically until the election outcome was known, but thankfully this doesn’t seem to be the case."
