House sales suffer slight fall - Mortgages - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

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 It is now over 6 months old so the content may be out of date.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 Any products featured may be withdrawn by their provider or changed at any time.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

Homeowners underestimate remortgaging savings

Remortgaging has been enjoying a surge in popularity in recent months, and considering how much you could save, it’s a no-brainer! Unfortunately, many fail to realise the extent of potential savings, which could mean too few make the switch.

Mortgage rates at fresh lows – but it may not last

Average fixed mortgage rates continued to fall this month, however much of this could be a technical adjustment rather than an indication of ongoing rate cuts – which means it may be worth switching to a new fixed rate deal sooner rather than later.

10-year fixed mortgage market flourishes

Given upcoming negotiations on the UK’s relationship with the EU, we are expected to have some uncertain times ahead. As a result, many borrowers will be seeking long-term mortgage repayment security, and happily, the 10-year market is flourishing.
 
Close