Response to the latest House Price Index from the ONS
Tue 14 Jan 2014
Peter Rollings, CEO of Marsh & Parsons, comments: "Despite a slight monthly slowdown towards the end of 2013, UK houses prices show no signs of winding down. House price growth has washed across every corner of the UK, and todays figures show that in a third of regions, house prices have surpassed January 2008 levels.
"The London property market is sailing ahead, with prices rising at more than double the pace of the nationwide average. Continued demand for the best properties in the sought-after postcodes in Prime London will ensure that strong property price growth will rollover into 2014, and we predict house prices to rise by a further 5-7% over the course of the next 12 months. This month, we have almost 23 buyers registered for every available property, which will inevitably keep property prices high, but as more property comes onto the market, we expect this to stabilise."