House sales have slumped this year – or have they?

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first_imgHome » News » Housing Market » House sales have slumped this year – or have they? previous nextHousing MarketHouse sales have slumped this year – or have they?Data from the ONS on number of homes sold in England and Wales contradicted by data from the HMRC published in the same document.Nigel Lewis12th December 201701,002 Views The number of house sales in England has dropped by 12% compared to a year ago, according to latest figures from the government’s statisticians, the ONS.The figures are for August and are based in part on the latest set of sales results to be released by the Land Registry.The data also reveals that the number of homes sold dropped elsewhere too – by 15.8% in London and by 3.4% in Wales, both by the same measure.But the house sales report is entirely contradicted by figures from HMRC which reveal it believes that the number of homes sold in the UK increased by 9.2% during the year to October 2017, and by 1.7% over the past month.We spoke to the Land Registry, who were unable to explain the difference between the two house sales numbers and, we are told, neither is the ONS.So baffling is the difference between the HMRC data, which is based on Stamp Duty receipts, and the Land Registry data, that the Negotiator has been told analysts at Savills have spent a lot of time and energy on finding out why.“I would back the ONS figures every time because they are the only independently-sourced and unbiased snapshot of how many homes are being sold,” says property expert and property finder Henry Pryor (pictured, left).“If we were allowed just one index in the UK then that’s the one I’d have.“The ONS are transparent about where their data comes from, but I don’t believe that the HMRC is quite so clear about its data – which is why I think it should be called out about this.”The ONS index this month also reveals that the average houses price in England has increased by 4.7% of the past year, decreased by 0.6% over the past month, and now stands at £240,860.HMRC ONS Official Of National Statistics December 12, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more