September 2015 was strongest since 2007

Mortgage Introducer

October 8, 2015

The North and North West of England saw the biggest year-on-year increase in property sales in the three months to August 2015 while East Anglia, London and the South East saw the greatest annual falls.

Growth was underpinned by the lower end of the property market, as the most frequently paid property price across England and Wales was £125,000 – the cut-off point before stamp duty is charged.

Typical property prices were £11,500 (4.2%) higher than a year ago.

Adrian Gill, director of Reeds Rains and Your Move estate agents, said: “The speed of house price growth across England and Wales may not be setting the world alight, but it’s certainly showing it has stamina – September marks the 42nd successive month of positive annual growth.”

He added: “This is the strongest September for home sales since 2007, escaping the recession shadow and completely defying the seasonal trend.

“Monthly sales have totalled 84,000, an increase of 3% from August, and making September only the second month this year in which sales have overtaken 2014 levels.

“The regional spread of home sales reads like a traditional tale of North/South divide – with cheaper northern regions experiencing the fastest growth in property sales, while a shortage of property stock on the market in the south is slowing activity.”

Sign up to our daily email