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House sales rebound in August

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  • 27/08/2010
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The number of house sales rose 0.9% in August following two months of declines, according to Agency Express.

The Agency Express Property Activity Index also showed that the number of properties being sold in August 2010 was up 6.2% on the same period last year and 50.7% on August 2008.

The number of properties being put up for sale also modestly increased by 0.5% during the month compared to July and were up 47.5% on August last year and 41.8% on two years ago.

The majority of regions across the UK saw increasing house sales, with Wales recording the highest jump of 28.5% and the East Midlands up 14.7%.

However, several regions saw a decrease in house sales, with Central England down 18.6%, the South West down 6.9% and Scotland down 6.1%.

Stephen Watson, managing director of Agency Express, said: “Despite being in unchartered waters regarding the government’s austerity measures and talk of a double-dip recession, consumers have taken stock of the overall economic situation and have decided that the property market is still holding relatively firm with steady demand and genuine opportunities.

“With the likelihood of interest rates remaining low for the next few months, the market is looking very healthy, particularly with the number of properties coming on the market, which might be a reflection of the number of people choosing to holiday at home this year with more time to think and act on their next house move”

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