Peter Rollings' response to the latest Land Registry figures
Thu 29 Aug 2013
"The increase in transactions is testament to the fluidity of the market, which is reaching every corner of the country. With interest rates virtually guaranteed to remain low until at least 2015, many buyers will be feeling confident and ready to buy.
"The figures for London show the capitals property market continuing to surge ahead in another gear to the rest of the country. A 6% increase represents an orderly rise in property values across the capital, although this can be higher in the very desirable areas of Prime London, where demand remains strong from both overseas and domestic buyers.
"Our research has found a 14% increase in Prime London property values in the last year, but we expect this rate of growth to stabilise. The Land Registry figures also demonstrate the complexity of the London market and the varying levels of growth in its mosaic of different areas. Some may be surprised to see the London boroughs of Lambeth and Wandsworth increasing at a faster rate than Kensington & Chelsea, thanks to the gentrification of these up and coming areas."