House sales rise more than a third

House sales were 34 per cent higher than the previous year in the period between October 2013 and January 2014, according to a new report. The Land Registry’s latest House Price Index for England and Wales showed that sales volumes averaged 74,941 transactions a month, compared to 55,824 in 2012/2013. Completed house sales in January this year saw an increase of 46 per cent to 63,123 compared with 43,373 in January 2013. The biggest monthly price rises were in the North and North East of the country, with figures showing a 1.1 per cent increase, while average prices in regions stand at £99,313 for the East and £184,980 for the North East. David Brown, commercial director of LSL Property Services, said: “Price rises may have slowed slightly, but this isn’t a backward step for the market. Year-on-year house-price growth remains strong and buyer sentiment is high. In terms of volumes, the UK property market continues to show significant, sustained growth.”

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