HMRC: House sales up in September

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by Kay Murchie

HM Revenue & Customs (HMRC) has revealed a rise in the number of homes sold in September in the UK.

According to HMRC, 82,000 homes worth at least £40,000 or more were sold in the month - a slight rise from the 80,000 in August.

Furthermore, HMRC said house sales in the third quarter of 2009 were 11% higher than in the second quarter.

The news comes just a day after the Council of Mortgage Lenders (CML) revealed a rise in summer lending but said gross mortgage lending for September fell 27% compared to the same month a year ago.

According to the CML, mortgage lending was up 2% in September compared with the previous month, which according to the Council, signals “relative stability” in the market.

In the meantime, the quarterly lending trend looked more optimistic, with an estimated £38.9 billion advanced in the third quarter - an 18% rise compared with the previous three months.