Agents upbeat on better-than-expected sales figures

The number of residential sales rose 1.9 per cent to 102,050  in November compared to the same month last year, the latest HMRC data shows.

Sales were also up by 3.2 per cent from October to November.

The figures are more optimistic than many analysts anticipated and agents have reacted favourably to the news.

“Expect the unexpected with the 2019 property market! Once again, activity has shown to be continuing its seemingly relentless upwards trend, irrespective of huge political and seasonal distractions” says Jeremy Leaf, north London estate agent and former RICS residential chairman.

He continues: “Buyers are taking advantage of improving affordability and more stable employment but we do not expect a significant increase in values. Prices have been underpinned for some time by a shortage of supply so any rise is likely to be more than outweighed by the usual increases in stock at this time of year.”

Meanwhile Mike Scott, from online agent Yopa, adds: “The year overall has stayed in line with the very stable figures from 2014 onwards, with an average of 100,000 homes sold per month, 1.2m per year. We expect a slight increase in the numbers next year, as we enjoy a pause from the political uncertainty of the past few years, and there should be a little more than 1.2m home sales in 2020.”