The London housing market is cooling off and less populated areas of the UK are taking the reigns as the biggest movers in rising house sales. The Capital City has led the way in recovery of housing prices, as well as sales, during the time since the economic meltdown. Now, however, the East Midlands are stronger in house prices rising than in some time, and the trend looks to continue at least for some of this year, according to some within the housing market.

According to research conducted on Land Registry data, a survey took place comparing the first ten months of last year to the first ten months of 2013. Almost 800,000 sales occurred during that time period which translates into more than a 20% increase year on year.

Daventry, East Midlands was the leader in highest number of sales year on year, at 56%. Followed by Alfreton, East Midlands, at 53%, and Pudsey, Yorkshire and the Humber, at 51%. The bottom two of the top ten were Wickford, South East, 44%, and Clacton-on-Sea, South East, at 44%.

Several parts of London actually recorded a year on year decline, and more than a fifth of its boroughs experienced a year on year decline in sales.

Andy Hulme, mortgage director at Lloyds Bank, commented on the increase in house sales, saying: “Low interest rates, improvements in the UK economy and Government schemes, such as Help to Buy, all appear to have contributed to the rise in home sales.

“There is a clear north versus south pattern to the housing market recovery, with sales closer to their 2007 levels in the south. Indeed, a small number of towns recorded higher sales last year than seven years earlier, but sales remained much lower than 2007 levels in most areas.”