Response to HMRC's UK Property Transactions Statistics for December 2014
Wed 21 Jan 2015
Peter Rollings, CEO of Marsh & Parsons, comments:"While other indicators of the health of the housing market started to flounder towards the end of 2014, sales have held steady. The additional pressure of loan-to-income caps and stricter affordability regulations has slowed mortgage lending somewhat, but consumer confidence hasnt slipped and the Stamp Duty overhaul gave thousands of buyers an early Christmas present, injecting a new lease of life into demand in the New Year.
"House price growth was fading in the final few months of the year, as increased supply of housing stock relaxed the competition on the market and gave buyers a breather. Demand continues to be healthy, and combined with rock-bottom interest rates and attractive mortgage products, activity will pulse through the market and push forward further price rises in 2015 albeit at a more restrained level."