Liquid error: wrong number of arguments (2 for 1) Housing market 'momentum' continues | Marsh & Parsons Sales and Lettings Estate Agents London

Blogs, Press & Media

Housing market 'momentum' continues

Fri 21 Mar 2014

Housing market 'momentum' continues

Property sales rose sharply in February compared with a year ago, while rental costs started to go up again, figures have suggested.

Sales totalled 84,950 in the month, up from 64,270 in the same month a year earlier, data from HM Revenue and Customs (HMRC) shows.

But, owing to the seasonal slowdown in the market, this was the lowest level since April.

Meanwhile, rents rose 1.6% year-on-year in February, a survey said.

LSL Property Services, which owns Your Move and Reeds Rains, said that rent across England and Wales increased to 743 a month on average.

Activity in the property market has grown in the last year, owing in part to government initiatives to kick-start sales following a moribund few years.

"The momentum of economic growth continues to lift the UK property market and shows little sign of abating," said Peter Rollings, chief executive of Marsh and Parsons estate agents. "The government seems intent on oiling the cogs of the housing market, facilitating property transactions at all rungs of the ladder."

In the Budget, Chancellor George Osborne confirmed plans in the Budget to extend the first phase of Help to Buy, which was launched in England last spring, until the end of the decade.

This is aimed at increasing the supply of newly-built homes, with the second phase of the scheme designed to help those with a regular income, but little in savings, to get on the housing ladder.

Yet, in an interview with Radio 5 live's Wake Up to Money, former Bank of England Monetary Policy Committee member Adam Posen said the government's Help to Buy scheme was "largely mistaken".

Contact our office

Close

Contact our Lettings team

Close

Contact our Selling team

Close

Contact our About us team

Close

Contact our Corporate Services team

Close

Contact our International team

Close

Contact our Land and New Homes team

Close

Contact our Professional Valuations team

Close

Contact our Professional Services team

Close

Contact our Property Management team

Close

Contact our Riverside Properties team

Close

Contact our Career team

Close

Contact our office

Close

Request a viewing

Close

 

Close

Share this with a friend

Close