Response to the ONS' House Price Index for October
Tue 16 Dec 2014
Peter Rollings, CEO of Marsh & Parsons, comments: "Property price growth has quietened from the roar that was reverberating through the market earlier this year and with values notching up just 0.1% in the month to October 2014 they are on an even keel. But price growth is still steadily banging the drum on an annual basis with London leading the beat. Buyers here are benefiting from greater choice of property available for sale, favourable lending conditions, and more pragmatic asking prices, keeping activity levels pulsing.
"While the capital had a running start at the housing recovery, the Chancellors stamp duty revisions may extend a helping hand to aspiring homeowners in other regions, by lowering some of the up-front hurdles of buying a property. Increasingly animated demand at the bottom of the market will enable more sellers to make their next move up the property ladder, and this boosted confidence will grease the wheels of growth into 2015."