21
Dec
PROPERTY SALES HIT ANNUAL HIGH IN NOVEMBER
Home sales hit their highest monthly level of the year so far in
November, figures from HM Revenue and Customs (HMRC) have
shown.
There were 85,000 property sales during the month, up from
79,000 in October, it said.
However, despite the apparent pick-up in transactions, the
number of sales in the first 11 months of the year was lower than
the same period in 2010.
The property market has been subdued for some time.
Since 2007 sales have been weighed down by the continued
rationing of mortgages and the initial reluctance of sellers to
drop their asking prices.
There have also been concerns among potential buyers about the
state of the economy and the outlook for their jobs.
The HMRC figures show that there were 9,000 more property sales
in November, compared with the same month the previous year. The
monthly total was the highest since July 2010.