Peter Rollings responding to the latest Land Registry figures
Sat 27 Apr 2013
"March figures paint a positive picture for the housing market with some small but significant steps surfacing on the road to recovery. It is encouraging to see more first time buyers entering the market thanks to the Funding for Lending scheme. Funding conditions have improved rapidly as reflected by the falling rates and higher numbers of mortgage approvals recently. While the level of lending is still far from ideal, the markets underlying buoyancy is still helping to push house prices up again from last month. House price growth in London continues to surge ahead of the rest of the country with the capital continuing to operate in another realm. There are signs that improved domestic buyer demand in the capital has been supplemented by a growing interest from foreign investors from Europe, and as a result weve seen buyer numbers rise compared to the same time as last year. This will feed through into more competition in coming months, boosting sales prices and transactions in prime London this year."