House sales suffer slight fall - Mortgages - News - Moneyfacts

News

House sales suffer slight fall

House sales suffer slight fall

Category: Mortgages

Updated: 22/12/2009
First Published: 22/12/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The number of house sale in the UK fell marginally during November, although the 87,000 property purchases was the second highest monthly total in 2009.

Completed sales fell from the year high of 90,000 seen in October, figures from HM Revenue & Customs (HMRC) have revealed.

Perhaps reflecting some momentum for the mortgage market in 2009, it is just the second time a monthly fall has happened all year.

While the property market has experienced a challenging year, more than double the amount of sales were completed last month than at the outset of 2009 in January, when just 41,000 properties were sold in the UK.

Of the many property surveys and figures released, the majority have pointed to increasing activity and rising house process in recent months, with last month's report by the Bank of England reporting that the number of house mortgages approved for house purchases increased for the eleventh month in succession in October.

Opinion is split on the fortunes of house prices and, indeed, the property sector in the coming year. Some experts have predicted a further fall in prices, while others have predicted a year with next to no movement.

Earlier today, the Royal Institution of Chartered Surveyors predicted a slight improvement in house prices next year, amounting to a one or two per cent increase over the course of 2010.

Compare mortgages



Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Goodbye to the Help to Buy Guarantee

On 31 December, phase two of the Help to Buy initiative will be withdrawn from the market. It’s certainly done wonders for the high loan-to-value sector, so we thought we’d take a closer look at the significance of the scheme and the effect it’s had.

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.

Bank of Mum and Dad holds the (house) key

The Bank of Mum and Dad is an important source of finance for many young adults, and it seems that they still hold the key – in more ways than one.
 
Close