Property sales in 2014 reached their highest level since 2007
Property sales across the UK increased by 14% in 2014 and reached a total of 1.22 million, the higest figure since 2007.
New data released by HM Revenue and Customs shows that sales went up in every region of the UK, with the latest figures a far cry from 2009, when there was just 858,000 completed transactions.
SInce the market slump, numbers have been steadily rising, with the figure increasing from 1.07m in 2013 to 1.22m in 2014.
The findings come despite the market slowing down towards the end of 2014. Many industry experts predict that sales this year will continue at this slower pace, resulting in transactions being in the region of 1.18m in 2015.
The possibility of a slowdown this year has been further indicated by the recent trend in mortgage approvals, which have been falling since June. Data from the Royal Insitution of Chartered Surveyors also found that the number of potential buyers entering the market had fallen for six months in a row, and that the number of new properties being listed by its members were on the slide.