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1.4 per cent decline in UK property sales in January

 26th February 2015

The news of a fall in UK property sales last month may have led to more homeowners contemplating the services of cash buyers for houses like Open Property Group. The seasonally adjusted estimate for the month dropped by 1.4 per cent compared to December 2014.

That is according to the latest data from HM Revenue & Customs (HMRC), which said that the period saw some 97,320 residential transactions, representing the continuation of a slight downward trend in seasonal adjusted transactions.

January 2015 saw a drop in the number of non-adjusted residential transactions compared to a month earlier, as well as in comparison to January last year.

An HMRC spokesperson commented: "This is usual during this month of the year, although the number of non-adjusted residential transactions was also lower compared with January 2014. Please note that the figures for the two most recent months are provisional and therefore subject to revision."

HMRC's Stamp Duty Land Tax (SDLT) database is the source of the figures, recording the information that property buyers submit on the Land Transaction Return.

The higher end of the UK housing market has particularly slowed down in recent months, with the prospect of heightened Stamp Duty and a mansion tax on million pound homes a potential source of uncertainty.

The London market has also seemingly bottomed out lately, which may cause some of those struggling to sell their property in the capital on the open market to consider the services of the most reputable cash buyers for houses, such as Open Property Group.

UK housing market activity is presently greater in the north than in the south, powered by the former's greater affordability of properties and the additional help for first-time buyers provided by Help to Buy. Record low mortgage rates have also been of assistance to property purchasers.

For those who are struggling to sell their home in the present climate, however, Open Property Group may provide the swift and fuss-free service that they need in order to move on with their lives. Contact us now for free, no obligation advice, and your home could be sold in just days - wherever you are based in England or Wales.

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