House Sales Hit Six-Year High

House sales have lifted to their strongest level in nearly six years ahead of Christmas as the market began to show signs of real recovery. However, the Royal Institution of Chartered Surveyors (RICS) also found that the level of homes hitting the marketplace is nowhere near the levels needed to match demand, with increases in house price in some areas becoming "unsustainable". Each of the next five years will see a 5% rise in prices on average.

Just over 21 sales were made per surveyor in the three months to December on average, the highest level seen since spring 2008, and more than double that seen in January 2009. The housing market report said that during December, 56% more surveyors reported rising prices as opposed to falling. Every UK area saw prices going up, with London and the South East reporting the largest upward trajectory. Sales are predicted to show robust health throughout 2014.

If you’re thinking of selling your home, speak to a conveyancing solicitor for advice. IBB's private client group includes specialist residential conveyancing lawyers. Contact us by calling 01494 790000 or emailing conveyancing@ibblaw.co.uk.