Response to Land Registry's HPI for January 2015
Fri 27 Feb 2015
Peter Rollings, CEO of Marsh & Parsons, comments: "House price growth regrouped in January after an underwhelming end to 2014. All the fundamentals are in place to help the market get back into its stride, and stamp duty savings and competitive mortgages rates are already enticing buyers and sellers to the market and upping demand. This is good news for the wider housing recovery, which at the moment is still largely restricted to the South East as many other regions have a long way to go before they are within sights of the towering annual growth witnessed in the capital. In these places, access to Help to Buy and more affordable properties are the key stimulants invigorating demand at the entry level.
"On a monthly basis, the London market is dialling back to more reasonable conditions after the whirlwind of last year, allowing buyers some valuable let-up from cut-throat market conditions. A greater supply of properties on the market is music to the ears of London home buyers, and this optimism is feeding into a healthy demand. A feel-good factor at the culmination of the general election should get the top tiers of the property market moving again as the uncertainty clears, and this is likely to mitigate any shortfall in the meantime."