Liquid error: wrong number of arguments (2 for 1) Response to Land Registry's HPI for September 2014 | Marsh & Parsons Sales and Lettings Estate Agents London

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Response to Land Registry's HPI for September 2014

Tue 28 Oct 2014

Peter Rollings, CEO of Marsh & Parsons, comments: "House prices rises are flattening on a monthly basis, as growth relaxes after a rousing first half of the year. But considered as a whole, the UK property market is still on an upward trajectory and prices have seen a considerable uplift in the past year. London is still showing healthy annual growth, and the unparalleled draw of living or investing in what many regards as the worlds greatest city gave the property market here a shortcut in the recovery. As a result, the average price of a Prime London home has risen by 163,973 over the past year.

"But Londons economy thrives on its global standing as an unbeatable destination both to live and to do business, and talk of a 'mansion tax' and other populist wealth taxes threatens to erode this reputation. A quarter of all Prime London property purchases are made by overseas and foreign nationality buyers, though the vast majority have chosen to live and work here, adding hugely to the strength and vibrancy of the London economy. The uncertainty surrounding these proposals could shake the foundations of Londons property market as the political rhetoric picks up ahead of Mays general election, and wed enter dangerous territory, which could filter down to all sections of the market if these buyers packed up and turned their attentions elsewhere."

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