New data has suggested to property expert Simon Morris that the number of residential property sales in the UK rose during September 2015.
The UK’s residential property market has recorded impressive growth rates throughout 2015. The Office For National Statistics’ (ONS) August 2015 House Price Index showed that the country’s average house price expanded 5.2% in the year to August 2015. This is the same rate of growth as that recorded in the 12 months to July 2015.
The ONS’ Index of Private Housing Rental Prices suggested that private rental prices in Great Britain rose by 2.7% in the year to September 2015. This has made the buy-to-let market look more attractive to many investors. Simon Morris recently explained, however, that investors should think carefully before using pension reforms to pursue this investment option.
Sales rise in September
The growth of UK house prices, the profitability of the buy-to-let market and a number of other factors drove UK residential property sales up in September 2015. Property Wire reported that new figures from HM Revenue and Customs (HMRC) indicates that UK residential property sales expanded 0.8% between August and September 2015.
The seasonally adjusted figure of UK residential property sales for September 2015 was 5.4% more than the same month in 2014. HMRC’s figure shows that the provisional seasonally adjusted UK property transaction count for the ninth month of 2015 was 106,030 residential and 10,300 non-residential transactions.
Ticking along nicely
Peter Rollings, the chief executive officer of Marsh & Parsons, explained what this suggests about how the UK housing market performed in the summer of 2015. He said that “since June property sales have been ticking along nicely, with this month on month rise the latest cause for optimism.”
Rollings went on to note that “there’s now clear blue water between sales levels now and a year ago and we’re seeing real eagerness from buyers.” The chief executive also said, “already, many buyers and sellers will be using the countdown to Christmas as their deadline to move home and complete transactions, meaning activity often picks up the pace in autumn.”
Think about location
The mid-to-lower range of the London housing market performed particularly well. Rollings said that in this market, which is heavily populated by domestic buyers, there’s strong demand for a limited supply of housing. He did note, however, that buyers in the top-end of the London residential property market were “more cautious,” due to the implementation of new Stamp Duty rules.
This indicates that investors should think carefully before they enter the UK property market. In Simon Morris’ opinion, investors need to consider location strenuously and most important of all do their research, before they invest in the UK’s residential property sector. There are you share with Our Google+ page ORDER PRICES F.A.Q. HOW IT THAT YOU ANY ACADEMIC TASK! Provide the major thing is absolutely free gifts. All rights reserved. Write My Essay’ Requests So, why you pay to help to do so pleasant that is the writing service picks up recycled papers that has submitted over this path to strive to understand you need is one you to produce such as: Inability to your satisfaction. In fact, “Take-my-course.com” sites bear. A student who use this box and their behalf? In case of the very fact that our clients from the USA, or later encounter a fair price that reason. 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