More than six in ten of last year’s total transactions happened in the last six months of 2009.
But while property sales volumes in Britain as a whole for 2009 were 6.8% lower than a year earlier, in Scotland the drop was dramatic, with transactions down 33%. In England, transactions fell just 1%, but in Wales 12%
New figures from Zoopla show just how much 2009 was a year of two halves.
The number of properties in Britain that changed hands in the first six months of last year (273,015) was down 36.9% on 2008, but the second half of 2009 showed a 34.6% surge in sales transactions (421,732) compared with the last half of 2008.
While home values in Britain gained 2.5% over the year as a whole, average house prices fell 2.2% over the first six months of the year, before recovering in the second half by 4.7%.
Transaction volumes were particularly strong in the fourth quarter of 2009, up by double-digits in all regions compared with 2008 with the exception of Scotland which were up only 8% in the last quarter of 2009 compared with the previous year. Had there not been this modest recovery, Scotland’s 33% plunge in transactions would have been even more precipitous.
Last year’s drastic decline in transactions north of the border came after Home Reports – the Scottish version of HIPs – became mandatory.
Comments
Strange results, our office turnover was up over 400% in Prestwick, South Ayrshire. Properties are still selling well. Must admit though, 1st half was much quieter