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| 12 March 2010 | |
 House sales totalled 36,000 in January, 52% down on December, and then recovered only slightly (by 1.9%) to 40,000 in February – all of which suggests that the housing market in early 2010 was only in a slightly better state than at the depths of the economic downturn, according to a report by Acadametrics. The usual reasons have been produced by the report’s authors for this volatile situation: the seasonal fall-off in house buying, compounded by the exceptionally long and severe winter, plus the end of the stamp duty holiday.
"The start of 2010 was difficult for a number of reasons, and the question is whether this is a blip or the start of a new trend," said Peter Williams of Acadametrics.
"Given the unusual factors influencing the start of 2010, there is considerable uncertainty which can only be answered in subsequent months."
Although house sales were low, prices continued to rise, for the tenth consecutive month, according to Acadametrics. The average price of a residential property in England and Wales was 9.7% higher in February than a year earlier.
Even so, average house prices were down to a level last seen in April 2007, at £222,008. Tag this article :     |
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