Housing market enjoys spring bounce

The housing market remained strong as the industry enjoyed a ‘spring bounce’, according to new figures.
HM Revenue and Customs (HMRC) said that property sales nationwide hit their highest level of the year in May with some 100,360 homes sold – up from 95,600 in April.
Concerns that the market was overheating receded after separate figures from the British Bankers’ Association.
The banking group said that the ‘heat was coming out of the housing market’ as mortgage approvals – an indicator of future sales – had fallen in May.
It said that the total of 65,132 approvals was 3.5 per cent down than in the same month of last year.
Experts have mixed opinions about the pace and strength of the housing market , with it varying in different parts of the country – especially with high rises in London.
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