'Market is not overheating' - Marsh & Parsons
Mon 06 Jan 2014
The latest transaction figures from HMRC prove that the UK housing market is returning to form, according to
Marsh & Parsons CEO Peter Rollings.
There were 107,380 property transactions during November 2013 the highest level since December 2007, when
the market was beginning to slow down.
This is a 23.5% increase on November 2012 - and a 1.5% rise from October. Rollings said: "The number of
property transactions has now reached levels not seen since December 2007, although they are still some way off
the peak of that year. "Rather than slowing down for winter, the 2013 market is actually speeding up, with more
transactions taking place in October and November than during the summer. The market may be warming up, but
its not overheating. The London housing market saw a remarkable uplift in prices during 2013, and we expect a
similarly strong start in 2014 to drive an annual price increase - but these wont be as spectacular as last year.
With ongoing support from Government initiatives, we expect the rate of growth to remain sustainable.