HMRC: House sales slightly up in 2010 on year
HM Revenue & Customs (HMRC) has reported that the number of homes sold in the UK during 2010 was 885,000.
While this was a slight improvement on 2009 levels, it was just over half of the peak seen during the housing boom years of 2006 and 2007.
The figures are evidence that the housing market remained subdued in 2010 and the ongoing lack of mortgage availability and economic uncertainty continues to put pressure on the housing market.
Today, the British Bankers’ Association (BBA) revealed a further fall in the number of new mortgages approved by the major banks in December.
According to the BBA, the number of new mortgages approved in the month fell to 28,726, down from 29,696 in November – representing the lowest figure since January 2009.
Net mortgage lending rose by just £0.88 billion – the worst figure since June 1999.