DATA: HMRC reported 108,500 residential transactions in October
The robust figure was 2.3% higher than last month’s figure and 9% higher than the pre-pandemic average. This might reflect the rush to complete sales as mortgage rates rose.
DATA: ONS reported another record high in annual SDLT receipts
Stamp duty land tax (SDLT) receipts rose to £17.7 billion in the year to October 2022, a new record high. This data covers residential and commercial property.
DATA: DLUHC reported net housing supply of 233,000 homes in 2021-22
See Chart of the Week for more detail.
DATA: ONS estimated net migration of 504,000 in the year to June 2022
The provisional data reflects a number of unique circumstances including the recovery in travel following the pandemic. It’s possible the short-term shock as international migration patterns recovered have contributed to the excess private rental demand reported in many cities across the UK. If so, we’d expect some of these pressures to ease in the future.
DATA: ONS reported on higher education students and the cost of living
The survey shows “Half (50%) of students felt they had financial difficulties, with 35% saying these were minor and 15% saying they had major financial difficulties” and “Nearly one in five (18%) students said they had considered moving back to their family home and commuting to their university from there, with 6% of all students planning to do so”.
POLICY: Gove warns social housing providers on housing conditions
Following the tragic case of Awaab Ishak, who died as a direct result of mould in his home, the Secretary of State wrote to all providers of social housing “saying they must raise the bar dramatically on standards and demanding urgent action where people complain about damp and mould”. He has also withheld Affordable Homes Programme funding for the responsible housing association and threatened to block any other provider that breaches the Regulator’s consumer standards.
REPORT(PDF): Glen Bramley et al reported on “Homelessness amongst Black and minoritised ethnic communities in the UK”
They found “overwhelming statistical evidence that people from Black and minoritised ethnic communities experience highly disproportionate levels of homelessness in the UK”.
BLOG: Housing energy efficiency by Parliamentary Constituencies
Owen Boswarva published analysis and data on the energy efficiency of housing in England and Wales.
NEWS: Moneyfacts reported five-year mortgage rates dropped below 6%
Their release on Tuesday reports the average five-year fixed rate mortgage fellow to 5.95% though there are “a handful of lenders offering sub-5% fixed deals”.
Chart of the Week
This week saw the release of the most comprehensive housing statistics in England covering the 2021-22 financial year. There were no surprises with the headline 233,000 net additions at the level already suggested by other lead indicators (EPCs & Council Taxbase) and new build completions came in at 210,000 homes, again the level suggested by lead indicators. The chart of the week shows this latest data by region and expressed as a percentage of the existing housing in 2021. It shows the much higher relative levels of new build delivery in the south of England during the period and the higher contribution of net conversions in London. Check out our updated local authority level analysis for more detail.