Housing Transaction At Six-Year High
Tue 24 Dec 2013
Housing transaction at six-year high
There were 107,380 property transactions during November 2013 the highest level since December 2007 when
the market was beginning to slow down, figures from HM Revenue and Customs show.
The number of transactions in November was 23.5 per cent higher than the same month last year, and a 1.5 per
cent increase from October.
Peter Rollings, CEO of Marsh & Parsons, commented: This mornings figures are the proof in the pudding that
the UK housing market is returning to form. The number of property transactions has now reached levels not seen
since December 2007, although they are still some way off the peak of that year.
Rather than slowing down for winter, the 2013 market is actually speeding up, with more transactions taking
place in October and November than during the summer.
The market may be warming up, but its not overheating. The London housing market saw a remarkable uplift in
prices during 2013, and we expect a similarly strong start in 2014 to drive an annual price increase but these
wont be as spectacular as last year. With ongoing support from government initiatives, we expect the rate of
growth to remain sustainable.