Response to HMRC's UK Property Transactions Statistics for January 2015
Tue 24 Feb 2015
Peter Rollings, CEO of Marsh & Parsons, comments: "Property sales may have faded slightly in January, but buyer demand is still rosy. New shades of regulation in the mortgage market have slowed the process, but theyve made it more robust too and borrowers and lenders are benefiting from more thorough and effective affordability checks. As a result, the buyers who have their finances in place are eager to move quickly. January has seen a boost in agreed sales, which has firmly set the ball rolling for 2015, and this will only gather faster momentum during the spring typically one of the most popular times to move house when these completions come to fruition.
"Generous mortgage rates are giving borrowers more room for manoeuvre than ever before, and reduced stamp duty costs are another incentive greasing the wheels of activity at the lower end of the housing market, helping consumer confidence speed up. After the market re-adjustment weve witnessed recently, price growth will soon start ploughing forward again, although likely at a slower stride than last year."