Press response to ONS' House Price Index
Mon 15 Sep 2014
Peter Rollings, CEO of Marsh & Parsons, comments: "UK house price growth is persevering with its upward climb, but the stride is steadying - with prices rising an orderly 1.6% in the month to July 2014. However, London remains the snag in the fabric of the nationwide property market, showing an annual increase of 19.1%. As an international nerve centre for employment, finance and culture, the city is cut from a different cloth - and is engulfed by more powerful demand for homes, which has always pushed price inflation to the next level.
"Yet the market is returning to business as usual. This is a welcome boost to consumer confidence, as more natural trading conditions kick in and greater supply soothes both competition and price rises. Buying your first property or trading up is less disheartening than it was a few months ago, and the added choice available at buyers' fingertips will ensure sales climb comfortably for the rest of 2014."