UK House Sales Hit Four-Year High

The number of homes sold in the UK last month hit a four year high, reaching their strongest level since November 2009 .

UK House Sales Hit Four-Year High

The number of homes sold in the UK last month hit a four year high, reaching their strongest level since November 2009 according to the September RICS Residential Market Survey.

The survey details that the average amount of properties sold per chartered surveyor in the three months to September reached 18.7%, demonstrating the returning confidence to the housing market across the country.

House prices actually rose in every region in the UK except for the North East, with a balance of 54% more surveyors reporting rises rather than falls.

A balance of 49% of surveyors reported a surge in buyer enquiries compared to only 10% reporting a rise in instructions to sell, determining that housing is currently insufficient to match the upscale in demand.

Respondents also expressed confidence that the number of transactions will increase in the next three months as prices rise.

The report cited Help to Buy and the Bank of England’s Funding for Lending Scheme as two of the main factors behind the housing market’s continued recovery.


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