New figures 'show stability' in the housing market
New figures showing the number of transactions in the housing
market may suggest that signs of stabilisation are emerging, it has
Data from HM Customs and Revenue show that in October the
seasonally adjusted number of transactions for homes worth over
£40,000 was 65,000, compared with 60,000 in August and
This was only the third month this year to see a rise in the number
of sales, the others being February and May.
Commenting on the figures, Royal Institution of Chartered Surveyors
chief economist Simon Rubinsohn said this was "more evidence that
demand in the housing market is stabilising", adding that "falling
house prices and lower interest rates are encouraging some buyers
back into the market".
Mr Rubinsohn warned that the one threat to a continued recovery was
that economic downturn would translate into more unemployment,
holding back buying.