Press response to Nationwide's House Price Index
Wed 02 Apr 2014
Peter Rollings, CEO at Marsh & Parsons, comments: "Todays figures show that property prices across the country have risen by nearly 10% over the past 12 months, but remain 3% below the market highs of 2007.
"The London property market tells a very different story, with an 18% annual rise in house prices. The capital, unique to the UK, operates with unprecedented levels of demand and record sales. In South West London, we have 48 potential buyers registered for each available property.
"In January, half of all properties sold in Prime London went for more than the asking price, and one in three were snapped up within two weeks of being put on the market. 2014 may have got off to an unusually hectic start; however we can expect the rate of house price growth to stabilise in the coming months as supply replenishes in the spring."