March house sales up 24% on the year

| April 23, 2010 | 0 Comments
”March

New figures from HM Revenue & Customs show house sales rising to 72,000 in March, with the total increasing by 13,000 (22%) on February, the BBC has reported.

With January’s end to the stamp duty holiday still making its mark, March sales were still dwarfed by the 103,000 completions in December.

However, compared with a year earlier, the number of completed transactions on properties worth £40,000 or more increased 24%.

In the first quarter of 2010, completed sales volumes rose 28% compared with 2009, to 182,000.

In terms of prices, most forecasters are predicting a relatively flat housing market during the remainder of 2010.

The latest report from the Royal Institution of Chartered Surveyors (RICS) showed that in March, house sellers returned to the market in numbers not seen since May 2007, just before the roll-out of Home Information Packs began.

As new instructions outpaced new buyer inquiries, the rate of house price rises slowed, although there were significant regional variations with London, the South East and Scotland the performing markets.

According to the RICS, more surveyors in East Anglia, Yorkshire and Humberside, the North, and the West Midlands reported price falls, rather than rises.

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