Response to the ONS' House Price Index for September
Tue 18 Nov 2014
Peter Rollings, CEO of Marsh & Parsons, comments:"The legs of house price growth are certainly feeling the effects of the rapid uphill sprint at the start of 2014. Property prices rose a moderate 0.5% in the month to September 2014, and values have retreated back from peak levels in the majority of regions across the country. But considering where weve travelled from, the housing market recovery is still showing spritely movement, and good ground has been covered in property values compared to a year ago.
"London remains the spark plug injecting energy into the overall annual rise in UK house prices, and lively demand to live and work in the capital has always spurred growth on at a faster pace than in other regions. Following a slower than normal summer in London, an attractive combination of greater supply of property, excellent lending conditions and more realistic asking prices are attracting good amounts of potential buyers to the market."