UK home sales edged up in February for the second month in a row

House sales edged up in February for the second month in a row but were still lower than a year earlier, according to HM Revenue and Customs (HMRC) figures. Across the UK, an estimated 82,940 home sales took place in February, which was a 6% fall compared with the same month in 2023. Property sales increased by 1% in February compared with January, and HMRC said it was the second consecutive month-on-month increase. So far in the financial year to date (April 2023 to February 2024), about 915,450 home sales have taken place, down from 1,118,360 during the same months in 2022/23. Nathan Emerson, CEO of property professionals’ body  Propertymark, said: “Spring and summer are traditionally the strongest times for people to sell their homes, so we are likely to see a further uptake, making it easier to complete a transaction over the coming months.” Matt Thompson, head of sales at London-based estate agent Chestertons, said: “London’s property market remained busy throughout February.” Nick Leeming, chairman of estate agent Jackson-Stops, said: “Whilst today’s figures show signs of stability, recent falls in inflation and the expectation that the Bank of England will cut the base rate in May is paving the...

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