Peter Rollings' press response to the latest figures from the Land Registry
Thu 30 May 2013
"While the OECD and others argue that Osbornes innovative Help to Buy scheme could create another housing bubble, this mornings figures surely demonstrate the need for such initiatives to stimulate the market. While the number of completed house sales in England and Wales has fallen in the past year, the Help to Buy scheme will enfranchise many first-time buyers, allowing them to get onto the housing ladder, freeing up stagnant chains and creating better liquidity in the housing market overall.
"Todays figures show the London property market continuing to surge ahead of the UK housing market, driving growth with consistently strong price increases. A steady growth of 6.2% does not constitute a bubble and the figures show the London property market continuing its orderly rise. Demand for prime London properties remains consistently high, bolstered by both overseas and domestic buyers striving in competition for the best properties. The rise of 1m homes clearly demonstrates the premium paid for quality housing in prime areas of London."