Wigan Property News

Posted on: 27 September 2019

Wigan Property News

Wigan Property News

HMRC Report a big jump in property sales in August after a quiet July, with completed transactions jumping 32% over the month

There were 117,100 UK residential sales on a non-adjusted basis last month – up by a third on July

However, the transaction figure is nevertheless down 0.4% annually

All regions registered a monthly increase in completed sales, with the biggest in Northern Ireland at 51%.
There was a 38% boost in Scotland and a 32% rise in England, while Wales saw sales rise by 9.8%.

But it will be interesting to see whether this is a blip or a trend

The Wigan Property Market is continuing to show lower numbers of sales which I consider to be mainly due to the uncertainty of the political landscape

In Wigan, the number of properties sold ( stc ) in July this year was 332 while only 309 were sold in August

A breakdown across our postcodes reveal the following sold stc data
WN1 Aug 22 July 34
WN2 Aug 65 July 58
WN3 Aug 39 July 42
WN4 Aug 26 July 28
WN5 Aug 52 July 50
WN6 Aug 55 July 61
WN8 Aug 50 July 59

In the UK as a whole there are over 30,000 fewer transactions than by this stage last year

However, there is a silver lining to this in my opinion. Demand overall is strong and interest rates are low and the mortgage market is more relaxed now than it has been previously. If we can reach a conclusion on Brexit and the Government can bring about a positive new Housing Strategy this is no reason that I can see that the housing market will not continue to grow at a healthy rate


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