Property North Wales

A sharp rise in property transactions

Residential property transactions have risen by 24% in October, as opposed to the previous month, which comes as good news to home owners, where on average it pushes the price of their home up by around 0.1%. This has been the first monthly increase since May, earlier this year. Although this may not be spectacular news, it is certainly better news than discovering another drop, so home owners have finally got something to smile about.

The data, taken from LSL, reveals that there could be early signs of the recently introduced government-backed Funding for Lending scheme, designed to increase the availability of loans and mortgages for people and businesses, which should hopefully have a positive impact on the countries property market in the long run.

The London Olympic and Paralympic Games has been considered as a factor that cause a drop in people moving home in summer time, whereby many homeowners delayed their moving date until late this year. Figures have seen the largest price increases taking place in London, rising by 8.3% annually, compared with falls in regions such as Wales and the West Midlands.

The Government has been constantly trying to find ways to get more people onto the property market, with easier accessible loans and property funding. Schemes trying to turn around empty homes have also been put into action, in a bid to lower the number of empty homes across the country. For more information on latest property news, check out the Cavendish Ikin website, where an array of popular news, properties for sale in Chester, Chehsire & North Wales and many others for rent can be browsed!

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