Peter Rollings commenting on this mornings house price figures from the Land Registry and Nationwide
Fri 26 Feb 2010
"The London property market is worlds apart from the wider UK market at present. Strong house price growth continues unabated in the capital and theres been no easing in demand from house-hunters which is falling in many parts of the country, as buyers are discouraged by the real struggle to obtain mortgage finance. The bad weather led to a drop in prices nationally in February, Nationwide claims, but in London we simply didnt see buyers being deterred by the freezing conditions in fact, diaries for viewings were chock full.
"Rapidly rising house prices are now tempting more London homeowners to put their homes up for sale and we expect this to have an impact on house price growth in the next few months. As levels of supply move closer in line with strong buyer demand, prices will begin to rise at a more restrained, sustainable pace. Whether or not this healthy rate of recovery will be reflected in the UK housing market remains to be seen."-ENDS -
For further information please contact:
The Wriglesworth Consultancy
Tom Urpeth / James Staunton
0207 427 1400
Marsh & Parsons has been part of the London property scene since 1856. The sales and lettings agent has 14 offices situated in prime positions across central, west and south London. They have an intimate and extensive knowledge of the area.
Marsh & Parsons are an independent and professional firm with a 'can-do' attitude covering all aspects of residential property. They aim to establish individual relationships with clients through a business built on energy, agility, professionalism and knowledge. Their business aim is to be the agent who not only understands the local area around their offices better than any other agent, but also to be at the heart of the community.