Property transactions in April fell by half on last year to the lowest level since records began.
Sales of residential homes fell to the lowest level since records began in 2005 last month, new figures from HM Revenue & Customs show.
In April there were 38,060 transactions completed, which is less than half the number seen at the same point a year ago.
Having been given the green light to get moving again by the Government, the property sector is scrambling to shift its operations to ensure buyers, sellers and staff can adhere to social distancing measures while keeping deals moving.
Expected: Sales of residential homes fell to the lowest level since records began in 2005 last month, HMRC figures suggest
According to HMRC's new figures, which it claimed should be treated with 'some caution', residential property transactions during April this year were 53.4 per cent lower than in April 2019 and 46.1 per cent lower than March this year.
Lockdown measures stalled the housing sector and caused estate agents to close their doors, moves to be postponed and completion dates thrown into chaos. read more