Housing market transactions rose by 20% in June, from 52,975 in May to an estimated 63,500 in June.
While still down on the long-term national average, this increase in sold properties sharply reverses the drop in transactions last month.
House prices continued to fall in June, down 0.5% on May levels. This is mainly a result of sellers finally coming to terms with buyer demand for greater price discounts. The good news is that the oversupply in the market, prevalent last month, is now reducing.
Source: propertytalk Live!.