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Housing market springs back

by: Paula John
  • 30/04/2012
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Housing market springs back
The UK housing market bounced back in Spring, with more properties sold in March than either January or February.

According to figures released by HM Revenue and Customs (HMRC) 74,000 homes were bought in March, up from 63,0000 in February and 64,000 in January.

The hike in transactions could be attributable to a rush of buyer activity preceding the scrapping of the Stamp Duty holiday for first-time buyers on 24th March.

However, Spring traditionally sees increased activity in the property market, with more home changing hands in March than February every year for three years.

Overall, however, the market remains subdued compared to the boom years, with transactions this March running at just over half the level recorded by HMRC in March 2007.

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