Is it the recovery? House sales rise by 6.8% year-on-year during March

first_imgThe UK housing market made an unexpected recovery in March during which the number of homes sold increased by 6.8% compared to the same month last year.March is traditionally a good time for sales, usually trumping the first two months of the year. But the sharp month-on-month rise has surprised market watchers.“It is positive to see house prices have risen quite significantly and [are] up on last year, which could indicate that the market is starting to recover slightly,” says Neil Knight, Business Development Director of Spicerhaart Part Exchange & Assisted Move.The figures are both provisional and seasonally adjusted but suggest that 101,830 homes were sold during March.Knight (left) also claims that first time buyers are still dominating the market.Trade body UK Finance last week revealed that the number of completed first-time buyer mortgages increased by a fifth month in a row during March, up by 4.1% on 2018. This compares to a 0.1% rise in the number of home mover mortgages completed in the same period.These figures also suggest that slowing house prices particularly in London and the South of England are making property more affordable for first time buyers, further spurring on more people to get on the property ladder.House pricesZoopla has today revealed to what extent London’s softening house prices are spreading south.Its figures reveal that in all six cities covered by the Zoopla index in southern England, outside London, recorded the lowest growth rates since 2013 ranging from -0.6% in Oxford to +2.2% in prices Hometrack UK Cities House Price Index spicerhaart Zoopla April 25, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » Is it the recovery? House sales rise by 6.8% year-on-year during March previous nextHousing MarketIs it the recovery? House sales rise by 6.8% year-on-year during MarchGovernment figures suggest that a continuing boom in first time buyer activity is helping drive up the number of transactions.Nigel Lewis25th April 201901,229 Viewslast_img read more