Peter Rollings commenting on this morning’s house price figures from the Land Registry and Nationwide
Friday, 26 February 2010
"The London property market is world’s apart from the wider UK market at present. Strong house price growth continues unabated in the capital and there’s been no easing in demand from house-hunters – which is falling in many parts of the country, as buyers are discouraged by the real struggle to obtain mortgage finance. The bad weather led to a drop in prices nationally in February, Nationwide claims, but in London we simply didn’t see buyers being deterred by the freezing conditions – in fact, diaries for viewings were chock full.
"Rapidly rising house prices are now tempting more London homeowners to put their homes up for sale and we expect this to have an impact on house price growth in the next few months. As levels of supply move closer in line with strong buyer demand, prices will begin to rise at a more restrained, sustainable pace. Whether or not this healthy rate of recovery will be reflected in the UK housing market remains to be seen."
-ENDS -
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