UK Home Sales Fell More Than 60% in July

Home sales in Britain during the month of July decreased by about 63%, after reducing a tax exemption aimed at encouraging home purchases during the Coronavirus crisis.

The British Tax Office said Tuesday, August 24, that the number of homes sold in July, after adjusting for seasonal factors, was 73,740, down 63% from June, when buyers rushed to close sales before cutting emergency tax exemptions due to Covid-19, but it is 4% higher than in July 2020.

Sales are down 24% from the same month in 2019 before the pandemic.