House prices may be rising but sales are slowing at an alarming rate.
Recent HMRC property transactions data for June shows there were 96,920 sales, on a non-seasonally adjusted basis, the third slowest June for a decade and down 4% on June 2019.
Sales are down 55% compared with 2021, which was the busy stamp duty holiday rush period.
On a monthly basis, sales are down 3.1%, according to the HMRC data.
The seasonally adjusted estimate of UK residential transactions in June 2022 was 95,420 sales – 54.3% lower than June 2021 and 7.9% lower than May 2022.
The figures are based on stamp duty submissions.
HMRC Headline Figures
The latest transactions data:
• the provisional non-seasonally adjusted estimate of UK residential transactions in June 2022 is 96,290, 55.1% lower than June 2021 and 3.1% lower than May 2022
• the provisional non-seasonally adjusted estimate of UK non-residential transactions in June 2022 is 8,850, 24.3% lower than June 2021 and 9.5% lower than May 2022
• the provisional seasonally adjusted estimate of UK residential transactions in June 2022 is 95,420, 54.3% lower than June 2021 and 7.9% lower than May 2022
• the provisional seasonally adjusted estimate of UK non-residential transactions in June 2022 is 9,110, 21.9% lower than June 2021 and 11.6% lower than May 2022
High Street UK banks have failed to pass on several Bank of England base lending rate rises to millions of savers, but are INCREASING interest rate for borrowers, and mortgage rates are up to 300% from 1% to over 3%.
NatWest increased rates on its credit cards by 2.5% as credit card borrowing in June grew at the fastest rate in nearly 17 years, Bank of England figures reveal. Borrowing on plastic soared at an annual rate of 12.5% – the fastest pace since November 2005.
Mortgage rates have jumped in the last year adding to the cost of buying a home. For instance, a 2% increase on a £200,000 mortgage will cost borrowers an additional £4000 per annum or £333pm. On a £250,000 loan, the extra cost is £5000 a year or £416pm.
Most lenders will take this additional burden into account when working out the affordability test and adjust the borrowing level downwards. In other words, the borrow must put down a higher deposit or pay less for a property.
The current UK base lending rate is 1.25%.
Is your bank branch closing down?
US Economy shrinks as Fed hikes rates 0.75%
The US economy contracted 0.9% for the second quarter in a row, technically a recession.
The US central bank has announced another large interest rate hike.
The Fed will increase its key rate by 0.75 percentage points, targeting a range of 2.25% to 2.5%. Meanwhile, banks are leaving millions of savers out of pocket in accounts paying almost ZERO interest – which means their savings are LOSING 9.4% (the official UK inflation rate) every year.
Savers should vote with their feet and move their money to obtain better deals – if they can find a local branch!
Years of low interest rates have pushed millions of investors into buy-to-let property, where the can receive much higher income, as well as growth on their capital.
Open House South Herts has property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see
A slowdown in the property market means more opportunities for buyers and investor!
You can learn the secrets of professional property investors who have built huge portfolios with other people’s money.
FREE TRAINING – BEGINNERS PROPERTY SECRETS
This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.
Live training Wednesday at 7pm UK time.
CLICK TO JOIN THE LIVE ONLINE EVENT

LIVE NO MONEY DOWN HALF DAY WORKSHOP
LIVE in person event – No Money Down Property workshop
Click to register as places are strictly limited.
No Money Down isn’t as difficult as you may believe… If you want to take the next steps and take advantage of the opportunities that have opened up to you in the past few weeks (increase in probate deals, pre-repossession lease options that are available and tenant buyer Rent2Own demand at an all time high just to name a few), then join event on the 2nd August.
At the No Money Down Discovery event, you can discover:
The hidden secret of how the rich get and stay wealthy. How you could buy property using joint venture funds. How to control and cash flow other people’s properties. The six steps to a RESULT in any negotiation. Where to invest, and why you would want to invest there!
Join the event by registering here now! Tuesday 2nd August 9am to 1pm.

#property #freetraining #propertysecrets #money #banks #savemoney #buytoletinvestor #propertyinvestor

source