Response to the ONS' House Price Index for December
Tue 17 Feb 2015
Peter Rollings, CEO of Marsh & Parsons, comments: "Property price growth enjoyed a rollercoaster ride in 2014, and while the market has slowed down somewhat from the steep accelerations of the summer, its still firmly on track and pressing forward in a steadier fashion. On a monthly basis, house prices are showing stronger growth in December, with a robust 0.7% rise to end the year.
"In London, where price inflation was pushed higher and higher during the past year due to an imbalance of supply and demand, growth is still elevated above other regions, but normality is resuming. An influx of available properties onto the market has taken the heat out of price inflation. Furthermore, the fact that buyers are enjoying the most favourable mortgage rates for years, will ensure healthy demand keeps the market moving throughout 2015."