22 Apr

New data shows March house sales jump

New data shows March house sales jump

New figures have revealed a 40 per cent rise in the number of homes worth over £40,000 being sold in March.

Data revealed by HM Revenue & Customs today showed that the number of houses in this category sold last month was 60,000, compared with 43,000 in February.

Such an increase may be an indication of a recovery in the market, with more transactions to follow recent data showing a jump in the level of mortgage lending.

Other evidence included Rightmove's figures from earlier this week indicating higher asking prices everywhere in England and Wales last month, except in London.

More people looking to buy cheaper homes - such as first-time buyers - could be helped by a new move on stamp duty by chancellor of the exchequer Alistair Darling.

In his Budget speech, Mr Darling announced that the raising of the lowest threshold for the levy from £125,000 to £175,000 - which had been due to last one year from September 2008 - will now continue until the end of 2009.

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