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North sees biggest increase in home sales

Monday, 17 October 2011 10:58 AM

Bury in Greater Manchester was the top hotspot for property sales in the first six months of 2011, according to a survey by the Halifax.

The bank said sales in the town were up 44 per cent on the same period in 2010 driven by activity at the lower end of the market with flats and terraced homes.

Bury was followed by Leigh in Greater Manchester, Rugeley in Staffordshire and Houghton Le Spring in Tyne and Wear. However, all four towns have seen sales growth from a low base.

And total sales in the top ten performing towns are still 42 per cent lower than in 2001.

Great Yarmouth and Dereham in Norfolk, Hastings in East Sussex and Bushey in Hertfordshire were the only towns from southern regions in the top 10.

In contrast, nine of the ten towns seeing the biggest fall in sales were southern England. The list was headed by Hoddesdon in Hertfordshire (down 39 per cent) and only Aberdare in Wales broke the southern domination.

Suren Thiru, Halifax housing economist, said: "Many of the top performing towns are in the north, reflecting a reversal of 2010 when the housing market in southern England outperformed the north."

However this is somewhat at odds with the Rightmove house price index released today, which shows that average house prices in the north are substantially lower than in the south.

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