House sales up in two-thirds of towns

Property sales have risen in two-thirds of towns across England and Wales in the last year as prices become more affordable, research shows.

According to Lloyds TSB, some 324 out of 500 postal towns and London boroughs tracked experienced an increase in sales in the first half of 2012 compared to the same period in 2011.

This is substantially higher than the 151 towns that recorded a rise in the first half of last year.

Using Land Registry data, the bank found that there is something of a north-south divide, with 60 per cent of towns to see sales growth being located in southern England.

The Suffolk town of Felixstowe saw the biggest increase, with 60 per cent more home sales going through, while Salford in Greater Manchester recorded the biggest decline at 28 per cent.

Lloyds TSB found that a reduction in prices is what seems to have spurred growth many towns. Indeed, prices in the top ten locations have fallen by around seven per cent in the last four years.