You are here: Home - Uncategorized -

Property sales fall in April as market remains flat

0
Written by: Lana Clements
22/05/2018
Transactions plunged by 12% between March and April as homebuyers held back
Property sales fall in April as market remains flat

Property sales fell in April compared with the same month last year, according to official figures.

Transactions were down by 2% last month, compared with the same period in 2017, according to non-adjusted HMRC data.

Between March and April sales plunged by 12%.

Overall there were 100,190 residential and 11,300 non-residential transactions last month, the figures showed.

Paul Smith, chief executive of Haart estate agents, said the figures were “disappointing” but the outlook is brighter.

He added: “Our own data shows that buyers are returning to the market in significant numbers, with branch registrations up 9% on the month in April and almost 40% on the year.

“House prices increased by a healthy 1.2% on last year. As the weather heats up, this increase in interest will convert into greater activity and more transactions.”

Jeremy Leaf, north London estate agent, said: “Looking forward, we expect more of the same as we enter the spring market, which sets the tone for a steady rather than spectacular rest of the year for activity.”

More supply needed

The government must provide more supply to give the market a needed kick into action, according to experts.

Kevin Roberts, director of Legal & General Mortgage Club said: “A lack of appropriate housing stock and rising demand continues to squeeze the bottleneck in our housing market.

“Preventing any real momentum from forming, it is limiting the options for those looking to step on the property ladder, or up, or downsize.

“For us to see a real push in numbers, we need the government to build around 300,000 homes per year to keep up demand.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your Mortgage Guides

Your Mortgage Award Winners 2018-2019

Download our guide to the best mortgage lenders in the UK

Read More >

Read previous post:
Want to pay 0% interest on your mortgage for three months?

The Welcome Mortgages from Leeds Building Society charge 0% interest for the first three months, to give homebuyers a break...

Close