21 Nov

New figures 'show stability' in the housing market

New figures 'show stability' in the housing market

New figures showing the number of transactions in the housing market may suggest that signs of stabilisation are emerging, it has been suggested.

Data from HM Customs and Revenue show that in October the seasonally adjusted number of transactions for homes worth over £40,000 was 65,000, compared with 60,000 in August and September.

This was only the third month this year to see a rise in the number of sales, the others being February and May.

Commenting on the figures, Royal Institution of Chartered Surveyors chief economist Simon Rubinsohn said this was "more evidence that demand in the housing market is stabilising", adding that "falling house prices and lower interest rates are encouraging some buyers back into the market".

Mr Rubinsohn warned that the one threat to a continued recovery was that economic downturn would translate into more unemployment, holding back buying.

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.