Greatest Increase In Home Sales Seen In Northern England

Halifax indicates that because these lower than UK average property priced locations

have started from a lower base they are actually performing better than much priciermore exclusive locations in the south of the country due to affordability.

Property transactions in Bury (a area in Greater Manchester) have risen by forty four percent over the second half of 2011, that is compared with the same period in the year before, which is greater than any other principality in England and Wales. This bumper increase in home sales in Bury year on year is driven by a similarly distinguished rise in the volume of activity at the foundations end of the property market with apartment buildings and terraces accounting for seventy seven percent of the total rise in home completions.

Bury, Leigh, Greater Manchester Rugeley Staffs and Houghton Le Spring Northumberland are the four areas that recorded the largest rises in residential home completions since the previous year. Great Yarmouth showed the biggest increase in house sales at 27% outside northern England. Thus prices of Greater Manchester Houses have performed stronger than many other areas in England.

Total transaction levels in the ten best performing principalities over the past year are still 42 percent lower than ten years ago, in spite of the recent strong escalation in property sales. Even with the recent increase in sales in Bury the country's leading property completions hotspot are 42 percent lower than 2001.

The Hertfordshire village of Hoddesdon is down 39 percent and reported the greatest drop in sales, followed by Buckingham at thirty four percent. In fact nine out of 10 villages that reported the largest declines in home completions over the past year are in southern England. The only principality outside southern England to place among the 10 worst performing regions with a reduction of thirty three percent was Aberdare Wales. That is in stark contrast to the former year when 8 out of ten towns that reported the greatest rises in home transactions were in southern England.

All principalitys in England and Wales realiseda fall in completions between the first six months of 2010 and 2011. The North of England realised the smallest fall at 2.2 percent, the North West specifically saw -4.8%, the West Midlands saw minus four point nine percent. The number of home completions in London dropped by eleven point three percent over the period, this was bigger than in any other location, partly found to be resulting to price levls still rising without fail in certain regions of the capital. The South West saw a reduction of eleven point one percent and in the South East sales were down ten point seven percent. House completions over England and Wales overall have fallen by eight point seven percent over the previous year.

Considering the full picture the number of house sales in England and Wales has dropped by forty nine percent over the last 10 years from 532,709 in the first six months of 2001 to 271,113 for the same period in 2011.

by: iann7g10la

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