Optimistic findings today from HM Revenue and Customs (HMRC) which show that the number of homes being sold is continuing to rise, reports BBC Online. However, it is key to note that this may be due to the usual ’spring bounce’ period, when sales traditionally have tended to increase.

This complements or (could be attributed to) the increase in mortgage approvals in the last six months, highlighted by the British Bankers’ Association (BBA). The BBA put mortgage approvals up by 15.8%, at 31,162 since this time last year. But again the BBA points out the market as still subdued.

According to HMRC, 62,000 homes worth over £40,000+ have been sold in May, up 7% from last month. BBC then pointed out the truism that this is nowhere near the levels of the boom in housing.

Critics point out the usual spring bounce findings which occur every year, but, stripping out the seasonal factors, March saw a 40% leap in property sales from the month before. Perhaps, it can be argued, that green shoots are emerging in the property market. Home loan providers have even begun increasing their cost of fixed rate mortgages in the last couple of weeks in response to higher demand.

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