A much hoped for revival in the UK property market was reported today as official figures showed home sales jumped 40 percent month over month. According to HM Revenue & Customs, 60,000 homes worth at least £40,000 each were sold in March. According to the HMRC, this compared favorably to the 43,000 flats and houses that were sold in February.
In a similar positive trend, the amount of money lent in UK mortgages rose by 16 per cent to £11.5 billion from February to March, but the figures were down 52 percent from a year earlier during March 2008.
Director-general of the CML, Michael Coogan said: “While the market is beginning to show some signs of stabilising, housing transactions and lending are set to remain low for the foreseeable future."
Source: Timesonline.co.uk
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