House sales soar in February
Agency Express has reported a surge in house sales between January and February, with three regions reporting their highest monthly sales since the market peak in 2007.
According to the firm, which claims to be the UK’s largest “For Sale” board management contractor, every region except Central England saw substantial month-on-month increases, with star performers as follows:
The North West a 152.4% rise in sales; East Anglia 125.6%; London 123.5%; the South West 122.6% and the South East 120.8%.
Focusing on the UK’s cities, Nottingham experienced the greatest increase at 206.3% and other notable rises were Manchester (168.4%), Oxford (147.3%), Cambridge (140.2%), Milton Keynes (134.2%), Colchester (128.1%), Glasgow (111.1%), Coventry (110.3%), Norwich (109.8%), Newcastle (107.6%) and Carlisle (103.3%).
Agency Express believes the figures confirm that the bad weather seen in the first couple of weeks of the year and the rush to avoid stamp duty at the end of December dampened January’s house sales.
The company is therefore interpreting the “astounding increases in February sales” as evidence that the UK property market is recovering faster than expected.
Managing director, Stephen Watson, says: “After a pretty slow start to the year it appears that the British public is not prepared to sit around and wait any longer.”
He adds: “It appears that the growing economic optimism has permeated the housing market and people are now making the decision to move.”