Property sales fall to lowest level for a year

But an unexpected surge in interest from potential homebuyers in December bodes well for the house market this year, estate agents said.
The typical number of house hunters registered per branch in December was 294, 32 more than the average figure for November, with viewings continuing right up until the Christmas break, the National Association of Estate Agents (NAEA) found.

The percentage of first-time buyers also rose to 21pc, continuing the increase since this section of the market hit its lowest proportion in nearly three years last autumn, although first-time buyers made up a quarter of the market during the same period last year.

Read More - http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/9024366/Property-sales-fall-to-lowest-level-for-a-year.html

2011 property sales will be lowest in 40 years

This year is set to register the lowest level of property sales in 40 years, according to Hometrack.

In its latest national housing survey, the firm says it forecasts 840,000 sales for 2011 and expects this trend of low transaction levels to continue into 2012.
The analysis shows that house prices fell slightly in November, by 0.2% compared to October, while the number of new buyers registering with estate agents decreased by 2.2%. Hometrack says demand from new buyers is likely to decline further in the run up to Christmas.
There was a 4.6% rise in the number of sales agreed, but the number of property listings fell by 0.8%, and the average time on the market rose slightly from 9.8 weeks to 9.9 weeks.
Hometrack says that low sales levels and increasing realism on pricing among sellers looking to move before Christmas are supporting headline indicators of housing market activity.

Read more - http://www.mortgagestrategy.co.uk/housing-market/2011-property-sales-will-be-lowest-in-40-years/1042236.article

UK Prime Property Sales Hit 4-year High

Lloyds TSB research found out that sales of 1-million pound properties in the UK hit its 4-year high.

According to the latest figures revealed by Lloyds TSB, the number of 1-million pounds' houses sold in the first six months of 2011 was the highest in the past 4 years.

It stood at 3,375 or 19 houses a day, which compares to 3,075 last year and 3,680 in 2007, before the economic downturn.

Evidently, the largest number of 1-million pound houses was sold in London (Fulham, followed by Hampstead and Chelsea). The other regions, where prime property was demanded by buyers, were the South East, East and the South West of England.

It is interesting to note, however, that 1-million pound property sales only constituted 1.1% and 5.7% of all house sales in the UK and London accordingly. The remaining 90+% of sales accounted for other types of property.

Commenting on the findings, Suren Thiru of Lloyds TSB, said: “Strong demand from wealthy cash-rich buyers both in the UK and from overseas, as well as limited supply of such properties, has helped to boost the level of activity at the very top end of the housing market.”
Article source - http://www.e1buytoletmortgages.co.uk/news/stamp-duty-news/uk-prime-property-sales-hit-4-year-high-4576.html