Housing Market Activity Rises 37%
New figures show number of homes sold rising strongly
9th May 2006
New figures from the Land Registry show that the number of homes sold in England and Wales rose strongly over the last 12 months, with 218,770 properties being sold in the first quarter of this year compared to 159,116 in the same period of 2005, representing a rise of 37%.
Across the UK, house prices rose by 5% over the same period, although there was wide regional variation with many areas of the north seeing rises of 7-8% while some southern locations actually saw falls in the average house price.
The areas seeing strongest increases in activity were in the south of England, with 68% more homes sold in Islington compared to the first 3 months of 2005, and Southend seeing a rise of 60%.
The robust housing market and strong economic performance leads many analysts to suggest an increase in interest rates may be on the cards before the year is out.
Read More: Money Guardian : Number of homes sold increases 37%
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