The number of high end property sales and rentals could remain low next year if the property market shows no signs of change from the last couple of years, Mouseprice has said.
According to Selwyn Lim, director of the online resource, analysts "are not going to be far wrong" by forecasting little movement in the property market."I am quite sure that the volumes will definitely remain weak and I can't see them shooting up to the 1.5 million transaction-levels that were [seen] at the peak in around 2006. In terms of prices, I can't see any wild swings in either direction," he explained.
Mr Lim's remarks come as HM Revenue & Customs research showed the number of transactions on UK residential properties worth £40,000 or more decreased from 80,000 in October to 77,000 last month, compared with 83,000 transactions in November 2009.
Meanwhile, separate government figures show London house prices and those in other parts of the country decreased by 0.1 per cent in October.
London House Price News
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