House Sales Hit 4 Year High in UK

The RICS Residential Market Survey says  that the number of homes sold in the UK hit an almost four-year high last month as the housing market recovery continues to gather pace.

Britain’s  property sector is enjoying its best market conditions for nearly years as the housing revival gathers pace, according to a report.

Property analyst Hometrack said a further 0.4 per cent hike in house prices between July and August, together with marked improvements across all key indicators, means the sector is now in its best shape since before the financial crisis.

The market shrugged off the traditional August downturn as house prices grew at an annual pace of 1.8 per cent, marking their biggest year-on-year rise for more than three years.

The figures come amid speculation the UK may be heading for another property boom.

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