Over the next three years the UK housing market could see housing transactions double with the number of people buying and selling in the UK expected to rise.
According to research by Hamptons international, housing transactions are likely to reach around 1.1 million per year over the next five years. This year transaction levels currently stand at 734,000.
Fionnuala Earley, Research Director at Hamptons International commented: “The fixation with house prices as an indicator of housing market recovery is misplaced. Transaction levels are a far superior indicator of housing market health. A liquid and active market is the key to avoiding volatility and to ensuring a stable and sustainable housing market in the UK”.
Government schemes such as Help to Buy and Funding for Lending are also helping to boost the market along with the economic recovery which is bringing confidence to the housing market.