Home sales leap in first quarter
New figures from the government have confirmed that the housing market leapt into action in the first quarter, with sales soaring at the start of the year.
New data from the Land Registry said the number of home sales in England and Wales jumped 37% to 218,770 between January and March against the same period a year ago.
The value of homes has also increased, by an average of almost £10,000 over the past year, with the North leading the way, although prices in the East Midlands grew by just £500.
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The figures showed that prices in England and Wales rose 5.05% in the year to March to an average of £192,745 while wealthy City types pushed the average London price above the £300k for the first time.
London dominates the market for the most expensive houses, with more than 1,000 £1m+ homes sold during the first quarter though average prices are actually higher in Buckinghamshire and Surrey with fewer flats skewing the figures.
