Residential sales increased in the UK in February, but market needs more

Residential property sales in the UK increased by 1.7% between January and February and were 2.7% higher than the same period in 2018, latest official figures show. Non-residential sales increased by 6.7% month on month and 2.1% year on year while overall there were 101,780 residential and 10,650 non-residential transactions, according to the data from HMRC. Aside from an increase in 2016, residential transactions in February have remained relatively stable over the previous five years and the HMRC data report points out that the fall in transactions starting at the end of 2007 coincided with the housing market slump and financial crisis.