Peter Rollings' response to the latest House Price Index from Halifax
Wed 06 Mar 2013
"Its not yet full steam ahead for the national housing market, but it is certainly building momentum. Buyer demand is strengthening as we head into the typically busier spring period and an improved start to the year from the mortgage market, combined with greater confidence in the labour market, has helped remove some of the inertia in the national sales.
"But the improvement continues to be powered by the strong performance of London. Both domestic and foreign buyers appetite for bricks and mortar in the capital seems undiminished, and unless we see a sudden wave of properties hitting the market, prices will rise further over the spring period.
"The surge in the worlds stock markets including the FTSE 100 indicates a change in sentiment and thats a highly significant factor in driving the UKs property market. However, its crucial that the Chancellor doesnt take steps in this months Budget to ratchet up property taxes and derail progress just as the housing market seems to be getting back on the right track. With London so pivotal in the recent recovery, any move that would disproportionately hit homeowners or sellers in the capital would take a toll on the wider national market."