Property sales apparently on the rise


Property sales hit a seven year high last month, according to the LSL House Price Index.
Sales were up by 21% in July 2014 compare to the same time last year, and an increase in 10% from the June 2014, showing a sharp upward trend.
This also makes it the highest rate of sales since November 2007, before the financial crash.
“First time buyers and buy-to-let landlords are helping the flow of activity in the UK housing market” said David Brown from LSL.
“Flats have seen the largest increase in sales during the second quarter of this year, rising a third compared to Q2 2013.”
Help to Buy schemes have also been alluded to have greatly aided this resurgence in property sales.
Apparently, disregarding data from London and the south east, where the highest house price increases are seen, the annual increase in the price of the average house nationwide has dropped from 5.3% to 4.6%, showing good progress for the market.
House prices are still increasing however, putting homes out of reach of the millions who can’t afford to become first time buyers and move onto the first rungs of the property ladder. So even if house sales are increasing, not everyone who needs a home is able to get a mortgage for one.

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