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Land Registry confirms property sales are down
Figures from the Land Registry have shown that housing sales have fallen by 15% compared with the same period from 2014, matching the trend recently reported by HMRC.
Cash sales, property auctions and mortgage-based purchases are included in the statistics, which were recorded in May this year. A total of 65,619 transactions took place, representing a reduction of 15% when measured against results from May last year.
Some experts regard this pattern as yet another sign that the market is easier for property buyers, while remaining difficult and competitive for sellers – especially those who need a quick move.
It appears that the housing market is cooling and is no longer gripped by the panic of recent years.
Despite this, prices for sought-after properties have risen – in some places as much as 13% per year – and in early August, the Royal Institution of Chartered Surveyors (RICS) said that the number of homes for sale was at an all-time low.
Meanwhile, there has been a fall of 21% in the sale of million-pound properties.
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