Strongest September for home sales since 2007 according to LSL

Last month was the strongest September since 2007 for home sales, with a distinct north-south divide when it comes to transactions according to LSL Property Services. 

Cheaper northern regions are experiencing the fastest growth in property sales, while a shortage of stock on the market in the south is slowing activity - but increasing prices. 

In a separate survey by LSL the three months to August 2015, the north and north west of England saw the biggest year-on-year increase in property sales, while East Anglia, London and the south east saw the most significant annual falls.

However, LSL says there’s a southern resurgence in price growth. with the capital recording its biggest monthly price boost since June 2014 - up 1.4 per cent.

Overall, average house prices across England and Wales have risen £11,500 in the last year, after 42 months of annual growth. September’s monthly price increase takes property values to its ninth consecutive record this year, standing at £284,742. 

An LSL spokesman says: "The most frequently paid property price across England and Wales is just £125,000, mirroring the level at which stamp duty becomes payable, and reflecting the impetus that has been injected in the first-time buyer market recently. 

"It is also the lower to mid-range properties priced between £180,000 and £360,000 which are seeing the fastest increases in value, while the shift in stamp duty bands continues to slow growth at the higher end of the market, and prices above £600,000 are largely stationary."