After a record year in 2021, the housing market in England cooled down in 2022, with the number of residential property transactions slightly falling. In that year, a total of approximately 1.1 million property sales were completed, compared to about 1.3 the year before. Some of the main factors that led to the decline were the cost of living crisis, higher mortgage rates, low inventory, and the rapid increase of house prices surging across the UK.
Total number of residential property transaction completions in England from 2012 to 2022
The source adds the following comment: "Not all England and Northern Ireland Stamp Duty Land Tax (SDLT) returns for transactions in the latest month will have been received by HMRC when figures are compiled. An estimate is therefore made to account for these unreceived returns. Transactions statistics are reported based upon when transactions were completed and only include those with a value of above £40,000."
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Statista. (February 23, 2023). Total number of residential property transaction completions in England from 2012 to 2022 [Graph]. In Statista. Retrieved October 10, 2024, from https://www.statista.com/statistics/713490/number-of-residential-property-transactions-england-uk/
Statista. "Total number of residential property transaction completions in England from 2012 to 2022." Chart. February 23, 2023. Statista. Accessed October 10, 2024. https://www.statista.com/statistics/713490/number-of-residential-property-transactions-england-uk/
Statista. (2023). Total number of residential property transaction completions in England from 2012 to 2022. Statista. Statista Inc.. Accessed: October 10, 2024. https://www.statista.com/statistics/713490/number-of-residential-property-transactions-england-uk/
Statista. "Total Number of Residential Property Transaction Completions in England from 2012 to 2022." Statista, Statista Inc., 23 Feb 2023, https://www.statista.com/statistics/713490/number-of-residential-property-transactions-england-uk/
Statista, Total number of residential property transaction completions in England from 2012 to 2022 Statista, https://www.statista.com/statistics/713490/number-of-residential-property-transactions-england-uk/ (last visited October 10, 2024)
Total number of residential property transaction completions in England from 2012 to 2022 [Graph], Statista, February 23, 2023. [Online]. Available: https://www.statista.com/statistics/713490/number-of-residential-property-transactions-england-uk/