How The UK’s Housing Market Recovery Helps Retail Sales

uk-retail-salesRetail sales in the United Kingdom went up more than expected this February. Compared to January, sales in the UK increased by 0.7%.

When compared to the previous year, retail sales beginning of this year had been 5.7% higher.

Industry analysts attribute the boost in retail sales to the current recovery in the nation’s housing market.

With more homes naturally come more purchases of things such as furniture  or home decorations.

While retail sales saw a good increase, the average store prices in the UK fell for the eighth consecutive month. Prices in February were down by 3.6% as compared to 2014.

As per the latest statistics published by the ONS, non-food stores saw the biggest increase in sales. The best gains had been in household goods, furnishings and decorations.