Response to RICS UK Residential Market Survey for June 2014
Thu 10 Jul 2014
Peter Rollings, CEO of Marsh & Parsons, comments:"For the first time since the recession, national house prices are increasing faster than rates recorded in the capital. This is proof that the rest of the country is back on track in terms of housing growth and that were moving into a new stage of the housing recovery.
"RICS market data for London reflects our own knowledge into current trends, with demand for property in the capital easing and supply continuing to rise. As a result we predict a continued slowing down in the rate of price growth and a natural levelling off of the market over the next 12 months, as it returns to a steadier, healthier rate of growth.
"However, when taking a closer look at the London market, interesting trends can be seen. Our London Property Monitor published later this month is expected to show that whilst prices in Prime Central London areas such as Chelsea and Notting Hill, are stabilising, prices in Outer Prime London and the 'urban villages' of Fulham, Clapham and Balham, are continuing to climb at a higher rate than the rest of the city."