Goole Times: 'End of year sales figures'
Thu 29 Jan 2015
Sales of residential property in the UK remained steady at the end of 2014, with seasonally adjusted transaction levels in December around the same level as November.
The HMRC statistics also show sales in December 2014 were 0.4% lower compared with the same month in 2013 - and on a non-seasonally adjusted basis, residential property transactions increased 2.3% year on year.
Peter Rollings, of Marsh & Parsons, pointed out that while otther housing market indicators started to flounder towards the end of 2014, sales held steady.
He explained: "The additional pressure of loan to income caps and stricter affordability regulations has slowed mortgage lending somewhat, but consumer confidence hasn't slipped and the Stamp Duty overhaul is injecting a new lease of life into demand in the New Year.
"House price growth was fading in the final few months of the year, as increased supply of housing stock relaxed the competition on the market and gave buyers a breather.
"But demand continues to be healthy - and combined with rock-bottom interest rates ans attractive mortgage products, activity will pulse through the market and push forward further price rises."
Danny Waters, of Enterprise Finance