Revisions to National Statistics on property transactions

A revised set of statistics on the number of property transactions completed in the United Kingdom with value £40,000 or above by month have been published today, 23 September.

This statistical series was withdrawn on 19 August due to uncertainty over their quality. Outputs obtained whilst updating the monthly series for the scheduled publication on 21 August contained some significant and unexplained differences with the statistics published in July. All months in the statistical series were affected to some degree, with the differences showing falls in some months and increases in others.

An investigation indicated that the differences were caused by an error in some of the data extracted for statistical analysis, which lead to a number of cases being either excluded from the statistical series or allocated to an incorrect time period. The error has now been rectified and a revised set of statistics has been produced. Following further analysis, we believe that the new statistical series is robust and hence the statistics are being reinstated as HMRC National Statistics.