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UK property market 'showed resilience this year'

UK property market 'showed resilience this year'
The property market in the UK exhibited signs of resilience this year and performed well despite the recession.

This is the suggestion made in a BBC article, which pointed to Bank of England figures revealing that the number of mortgages approved for house purchase increased in October for the 11th month in a row.

It also drew attention to HM Revenue & Customs statistics, which showed that completed property sales totalled 87,000 in November.

This was a rise on the 41,000 recorded at the beginning of the year.

The BBC remarked: "Many commentators have been taken by surprise by the revival of sales this year and the accompanying pick-up in prices."

Meanwhile, chief executive at Assetz Stuart Law recently suggested that next year will also be good for the country's property market.

He stated that the positive factors affecting the sale of houses and flats will outweigh the negatives in 2010.