80% higher than the same month a year ago

A huge surge in residential property sales in England during March has been measured as 80% higher than the same month a year ago. Altogether, there were 141,310 transactions.

Meanwhile, average house prices are growing across every single reason, says the latest Homes and Communities Agency housing market bulletin.

The bulletin says that there was a total of 1,135,830 transactions in the year to the end of March, up 9.9% on the previous 12 months.

However, the total stock of property for sale remains historically low.

The number of homes in England as at last year is 704,000. This was up 3.1% on 2010, and takes account of an 8% drop in the number of council-owned homes in the same period.