Completed sales showing rise in confidence

The number of completed sales in the UK property market has risen by a third in the last year, according to one legal firm, meaning that the confidence is once again starting to rise in the sector.

Irwin Mitchell said that the number of completions in June was 30 per cent higher than the same figure just a year ago. It also went on to add that this was eight per cent higher than in May of 2012.

This goes hand in hand with the new Land Registry figures, which have shown that the value of homes has risen over the last year, with the average price now 0.4 per cent higher than last year.

Lisa Gibbs, head of the national team of conveyancing specialists at Irwin Mitchell, said: "While much of the commentary related to property remains cautious and often downbeat, we are increasingly seeing suggestions that go against the grain and show there is a cause for optimism in relation to the market."

Earlier this week, Rics reported that demand for housing was decreasing.