More than 93,000 homes were sold in March, but it is still well below the 114,000 homes sold in October last year.
he housing market enjoyed a spring
bounce during March with the number of homes changing hands jumping by
17 per cent, figures showed today.
A total of 93,120 properties worth more than £40,000 were sold in the UK during the month, up from 79,830 in February, according to HM Revenue & Customs.
The figure was also slightly higher than the 91,570 transactions that were completed in March last year.
But it remained significantly below the recent peaks reached in August and October last year, when more than 114,000 properties changed hands during both months.
Today’s data contrasts with other figures on the property market that have pointed to a slowdown in activity, as both buyers and sellers adopt a ‘wait and see’ approach due to the uncertainty of the outcome of the General Election.
The Royal Institution of Chartered Surveyors (RICS) said the number of homes being put on the market fell for the second month in a row in March, while new buyer enquiries stalled.
The Council of Mortgage Lenders also reported a 16 per cent fall in the number of mortgages advanced to people buying a home in February, the latest month for which figures are available.
But despite muted demand from buyers, the ongoing shortage of homes for sale is continuing to put upward pressure on property values, with house price growth accelerating during March, according to RICS.
Meanwhile, nearly half of parents fear their child will be unable to get on to the property ladder without an inheritance due to high house prices.
Around 49 per cent of parents whose children have not yet bought a home think the only way they will be able to do so is if they inherit money, according to housing charity Shelter.
Among those aged between 25 and 34 who have been able to buy their own property, one in six used money they had inherited from a relative, while nearly a third were given the cash they needed for a deposit.
By contrast, only one in 20 people aged 55 or over relied on money from an inheritance to help them purchase their first home.
The study found that many parents feel high house prices and a lack of affordable homes are leaving their children priced out of the property market.
At the same time, needing to rely on an inheritance to buy a home, left more than one in 10 young people feeling inadequate or dependent on others.
A total of 93,120 properties worth more than £40,000 were sold in the UK during the month, up from 79,830 in February, according to HM Revenue & Customs.
The figure was also slightly higher than the 91,570 transactions that were completed in March last year.
But it remained significantly below the recent peaks reached in August and October last year, when more than 114,000 properties changed hands during both months.
Today’s data contrasts with other figures on the property market that have pointed to a slowdown in activity, as both buyers and sellers adopt a ‘wait and see’ approach due to the uncertainty of the outcome of the General Election.
The Royal Institution of Chartered Surveyors (RICS) said the number of homes being put on the market fell for the second month in a row in March, while new buyer enquiries stalled.
The Council of Mortgage Lenders also reported a 16 per cent fall in the number of mortgages advanced to people buying a home in February, the latest month for which figures are available.
But despite muted demand from buyers, the ongoing shortage of homes for sale is continuing to put upward pressure on property values, with house price growth accelerating during March, according to RICS.
Meanwhile, nearly half of parents fear their child will be unable to get on to the property ladder without an inheritance due to high house prices.
Around 49 per cent of parents whose children have not yet bought a home think the only way they will be able to do so is if they inherit money, according to housing charity Shelter.
Among those aged between 25 and 34 who have been able to buy their own property, one in six used money they had inherited from a relative, while nearly a third were given the cash they needed for a deposit.
By contrast, only one in 20 people aged 55 or over relied on money from an inheritance to help them purchase their first home.
The study found that many parents feel high house prices and a lack of affordable homes are leaving their children priced out of the property market.
At the same time, needing to rely on an inheritance to buy a home, left more than one in 10 young people feeling inadequate or dependent on others.
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