Property sales 'will be weak' next year

Posted: 22 Dec 2010 10:04:10 GMT

A specialist has suggested the housing market will struggle in 2011.

Property transactions will remain low in 2011, one expert has claimed.

Selwyn Lim, director of Mouseprice, observed he cannot see figures going above the 1.5 million sales levels that were seen in 2006.

"We think that you are not going to be far wrong if you predict that it is going to be much the same as the last couple of years," he said.

Mr Lim also suggested there will not be any "wild swings" in terms of prices next year either.

According to a report from HM Revenue and Customs, the number of transactions on residential properties in the UK worth £40,000 or more dropped from 80,000 in October of this year to 77,000 in November.

However, the findings show a decline in sales when compared with results from November in 2009, in which there were 83,000 sales in total.

Earlier this month, the Department for Communities and Local Government noted house prices decreases by 0.1 per cent in October.
 

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