Response to the latest property transaction figures from HMRC
Tue 21 Jan 2014
Peter Rollings, CEO at Marsh & Parsons, comments: "Strong demand is stoking the UK housing market, with property transactions in December having increased by almost a third compared to the previous year. Government schemes such as Help to Buy are generating waves of confidence in the housing market, and this is rippling out to all levels of the market. Positive sentiment as a result of low interest rates and the brightening economic picture will continue to drive the nationwide market recovery forward. But contrary to some concerns, were some distance away from the 'bubble zone', as the volume of sales is still miles off 2007 peak levels. In reality the wider market is still catching up after almost half a decade of lethargy.
"But the London property market is operating in a realm of its own, with levels of demand unheard of in the rest of the country. At the beginning of 2014, we recorded almost 23 registered buyers for each available property, which will keep prices high until more homes become available."