Home sales down despite low rates

The number of homes sold in the UK in September fell lower than August’s level, according to HMRC.

Despite record low mortgage rates and the start of the autumn selling season after the traditional summer lull, transactions fell by 4.3pc. This is 11.3pc lower than in September 2015.

Sales levels dived in April as stamp duty was hiked by 3pc for landlords. Sales have risen since then, recovering some of the lost ground.