MOMENTUM is building in the housing market, the latest figures from the UK Residential Market Survey reveal.
September was a bumper month for residential sales, with the level of activity being at the quickest pace since May 2014.
This means the market has now been on the up for five months in a row, with the North leading the way.
Looking ahead, transactions are anticipated to rise at a robust pace across all areas of the UK over the next twelve months.
The stronger sales performance has come on the back of the sustained upturn in demand seen since April.
Indeed, new buyer enquiries improved for a sixth successive month although the rate of increase did moderate a touch in the latest results.
Within this, almost all parts of the UK are seeing rising demand with the pick up particularly strong in the North West.
To add an extra boost to the market, mortgage approvals are at an eighteen month high as they rise 12 per cent compared to a year ago.
However, the survey also shows that less houses are being put on the market, despite the growing demand from buyers.
What this does is hike up the price of property, so expect value to go up in the coming months.
That said, house prices are still considered by 68 per cent of people to be 'fair' or 'undervalued' so a price hike should not be of undue concern.
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