The latest monthly data from the Office of National Statistic shows that the seasonally adjusted estimate of UK residential transactions in October 2021 is 76,930 – 28 per cent lower than the same time last year and 52 per cent lower than the previous month.

The provisional non-seasonally adjusted figure was 85,090, 30 per cent lower than October 2020 and 48 per cent lower than September 2021.

The data reflects a forestalling in transactions in the summer due to stamp duty concessions, which returned to the normal rate on September 30.

23 November, 2021