Housing market remains resilient despite pre-Budget uncertainty – London Wallet

The number of homes sold in October rose to 98,450, up 2% on September but 2% lower than in the same month last year, according to the latest HMRC property transactions data.

Provisional seasonally adjusted figures also show that commercial property sales dropped sharply, falling 29% year-on-year to 10,250. However, this represented a 2% increase on September’s level.

Agents say the steadiness in residential transaction volumes underlines the housing market’s resilience despite ongoing uncertainty. But some warn that further measures may be needed to stimulate activity, which remains subdued compared with longer-term norms.