May transaction levels up on April but down on last year

In the first quarter of 2015, there were 35% fewer transactions across PCL than there were, on average, in the last five years, notes buying agency Turnbull Property.

March saw an extraordinary hike in transaction levels across the UK, according to the latest data from HMRC. Graph: Savills Research

The number of London homes sold for over £2m has almost halved so far this year, down 48.7% on the same period a year ago.