Press response to HMRC's property transactions data for March 2014
Tue 22 Apr 2014
Peter Rollings, CEO at Marsh & Parsons, comments: "Despite a slight monthly dip, the volume of property sales in March was almost a third higher than the same month last year. Across the country, people are brimming with renewed confidence in the economy, with wages up, inflation down, and many people feeling better off than they have done in years. This is encouraging people to make their first property purchases and oiling the wheels of the market at all levels.
"In London, a shortage of available property in the face of growing demand has been pushing prices higher and creating a strong sellers market. A two-bedroom flat in Fulham which we recently sold received 72 viewings and 14 offers within the space of two weeks. But talk of a bubble is still wide of the mark in terms of property transactions, were still a long way off the pre-downturn highs of 2007, and there are also fresh signs that the market may be stabilising. In the last couple of months, weve seen more sellers marketing their property for sale in the busier spring season, easing the supply shortage and helping to give buyers a bit more breathing space."