House sales 'set to return to pre-crash levels'
Sunday 03 November 2013
The number of property sales in the UK will return to pre-financial crash levels by 2016, according to estate agency group Hamptons.
Continuing low interest rates, a more buoyant economy and initiatives such as the Help to Buy scheme will be behind the uptick in sales.
As a by-product Hamptons said that it expected house prices to increase by 6 per cent next year and by nearly a third over the next five.
However, Hamptons research director Fionnuala Earley said the more important factor in judging the robustness of the housing market was transactions: "The fixation with house prices as an indicator of housing market recovery is misplaced," she said.
"Transaction levels are a far superior indicator of housing market health. A liquid and active market is the key to avoiding volatility and to ensuring a stable and sustainable housing market in the UK."
By 2016, the group added, total transactions will again breach the one million mark, an average of over 80,000 a month, in line with the Uk's historic norm. In the immediate aftermath of the financial crash transactions slumped to below 40,000.
Life & Style blogs
- 1 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 2 Miley Cyrus' homeless MTV VMAs date, Jesse Helt, is wanted by the police
- 3 Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
- 4 Homer Simpson has taken the ALS ice bucket challenge because of course he has
- 5 Do you realise just how foolish the UK looks?
- < Previous
- Next >
Flexible for the right candidate: Clearwater People Solutions Ltd: I have a fa...
£500 - £700 per day: Harrington Starr: Calypso Developer Calypso, J2SE, XML, ...
£35000 - £36000 per annum + benefits: Ashdown Group: A market leading financia...
£250 - £350 per annum + competitive: Orgtel: My client, a leading bank, is cur...