House sales up 66%

The number of property transactions that went through in November this year was up 66% on November 2008.

According to the latest figures from the Agency Express Property Activity Index the actual number of properties sold in the UK fell 8.3% from October to November, but that was much smaller fall than those witnessed in November 2008 (23.95) and 2007 (20.5%).

Property sales traditionally start to drop off at this time of year.

Two regions stood out from the crowd registering increases in the number of properties sold in November. Scotland recorded a 7.9% rise and Yorkshire saw a 2.4% lift.

The North East and Wales recorded the smallest falls of 1.0% and 2.6% respectively.

There were also six cities that recorded rises in monthly sales in November led by Edinburgh with an 11.4% increase, Oxford at 11.0%, Leeds at 10.9%, Norwich at 10.8%, York at 7.9% and Glasgow at 6.3%.

Commenting on the latest Index results, Stephen Watson, Managing Director, Agency Express, said:

“We usually expect to see a considerable and universal decrease in UK property sales in November compared to October as the festive season approaches, but this year we are seeing significant signs that the market is fighting back. The decrease in November was less than expected especially when you consider that October was a particularly buoyant month.

"The picture across the UK is fragmented with a number of geographical areas showing an increase in sales and a number showing quite considerable decreases. But with the overall level of sales 66% up on this time last year and a more positive trend, we can look forward to more encouraging news in the New Year.”

Signs that confidence is returning to the market is also evidenced by the number of new properties that were put up ‘For Sale’ which followed a similar trend to that seen with properties ‘Sold’.

Although the number of boards erected in November was down 9.0% this was again far less than in previous years - and compared to November 2008, the number of properties that were put up ‘For Sale’ was up 31.3%.

Agency Express is the largest 'For Sale' board company in the UK.