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Number of UK house sales down, but prices up by 4.5%

Friday, Jan 01 2016
According to the latest Halifax survey the number of property sales during the first eight months of 2015 was 8% lower than in the same period in 2014, said the Halifax, which based its figures on the latest Land Registry data which covers more than 550 towns and London boroughs. The Halifax survey only looks at property sales, though it may help explain why house prices have risen sharply – by 4.5% for the UK as a whole in 2015, according to the Nationwide. 
 
Estate agents have warned that ongoing shortages of properties for sale are driving up prices, with buyer demand dramatically outstripping supply in some areas. There were falling sales in all regions of England and Wales in 2015, though the Halifax said there was “a clear north/south divide”, with sales falling more in the south.
 
Sterling finished last week above 1.4730 handle. Pair is likely to find support around 1.47 handle and resistance above 1.4780 level. On Monday, UK and US Manufacturing PMI figures are scheduled for a release.
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