You are here: Home - Mortgages - First Time Buyer - News -

Fall in housing sales as the South fares worst

Written by: Christina Hoghton
Salford in the North West saw a huge 23% increase in the number of housing sales in the first eight months of 2015, but the picture wasn't so rosy across the rest of the country.

Home sales in the first eight months of 2015 were 8% lower than the same period in 2014, according to new research by Halifax.

It said that all regions saw a fall in sales in 2015, but there was a clear North/South divide, with housing sales falling more in the South.

The biggest decline was in Greater London (-14%), while the smallest fall was in the North West (-3%).

Sales down in towns

More than eight of out every 10 towns saw a decline in housing sales in 2015, compared to the previous year when virtually all recorded a rise.

The biggest rises in sales between 2014 and 2015 were seen in Salford in the North West (23%) and Pontefract in West Yorkshire (20%). It was notable that this year all 10 towns experiencing the biggest increases in sales were outside southern England.

Market Rasen in Lincolnshire saw the biggest fall in sales with a 30% decline between the first eight months of 2014 and the same period in 2015. Seventeen towns saw a significant fall of 25% or more, while seven of the 10 towns recording the biggest declines were in London and the South East.

Craig McKinlay, mortgages director at Halifax, said: “Activity in the housing market has generally softened in 2015 with sales in the first eight months of the year down by 8% compared with the same period in 2014. While sales have declined in all regions, there is a clear North versus South pattern with sales falling most in southern regions. An acute shortage of properties for sales has also added to the constraints on activity.

“Nonetheless, there remain substantial local variations in housing activity with a small number of towns recording significant increases. These towns are largely in the North and are where prices are relatively low.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week