Property sales hit annual high, says HMRC

Wednesday, 4 January 2012

Property sales hit annual high, says HMRC

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.

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Source: BBC Business News http://www.bbc.co.uk/news/business-16284992

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