Press response to HMRC's latest property transactions data
Fri 21 Mar 2014
"With sales volumes in February up by nearly a third year-on-year, the momentum of economic growth continues to lift the UK property market and shows little sign of abating. Despite the introduction of 15% stamp duty for companies purchasing properties worth over 500,000, by extending the Help to Buy scheme for new build properties in Wednesdays budget, the Government seems intent on oiling the cogs of the housing market, facilitating property transactions at all rungs of the ladder.
"Prime London continues to be a strong sellers market, as the limited supply of housing stock struggles to keep pace with the influx of buyers competing for the best properties. Despite Osbornes budget for savers, Prime London property continues to be a highly desirable investment opportunity, which is helping to stoke demand. We witnessed one of our busiest starts to the year ever in January, with many properties being sold in record time, for the full asking price or above. As we gear up for the even busier spring season, we can typically expect more properties to become available, helping to relieve some of the pressure and normalising market conditions."