Peter Rollings commenting on today's house price figures from the Land Registry
Fri 26 Mar 2010
"Greater London house prices fell in February for the first time since May 2009, although prices in central areas of the capital continued their relentless rise. The slight dip in prices in the overall London market reflects the increase in homes being put up for sale in the capital. Over the past year, enormous demand from buyers has driven London house prices upwards at a much faster pace than the rest of the UK (a 3.9% increase in January 2010 alone) and this growth is encouraging more homeowners to put their homes on the market. The divide between buyer numbers and homes for sale is narrowing and we can now expect more moderate levels of house price growth in London in the coming months."He adds: "The Chancellor claims he wants to increase support to the housing market, but hitting buyers hard at the top end of the market will only succeed in dampening activity. The decision to increase the stamp duty threshold on million pound homes is a blow that will disproportionately affect home buyers and sellers in London and the South East."
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