Northern Ireland property market down 79% - worst hit in UK

Posted: 25/5/2020

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Residential sales across the UK plummeted by more than 50% annually during the market lockdown, HMRC data reveals.

Northern Ireland fared the worst, with sales down 79.2% annually, followed by a 67.1% drop in Scotland and 55.7% in Wales.

England, which has subsequently eased property market restrictions, saw sales decline by 54.9% during April.

The taxman has published its monthly transaction figures for April, giving an early indication of how the market fared since restrictions were imposed on sales between the end of March and mid-May.

The figures are based on Stamp Duty returns, which can be filed up to two weeks after completion so the actual numbers may be slightly higher.

The data suggests that the number of seasonally adjusted residential sales fell by 53.4% annually and declined 46.1% on a monthly basis to 46,440 in April.

The figures are unsurprisingly the lowest on record.

Key One Property are however happy to offer home sellers a very fair sales fee of just 0.5% and that is not a special rate for CV19 - that is our normal fee and that includes VAT !

That gives most vendors a saving of over half on their estate agent's bill. Call us 24-7: 9045 6162 or email: keyone@btinternet.com

Note: 0.5% sale fee inc VAT, subject to min fee £500 and T&Cs. 

 

 

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