Response to the ONS' House Price Index for April 2015
Mon 15 Jun 2015
Peter Rollings, CEO of Marsh & Parsons, comments: "Were used to London carrying the mantle of house price growth across the country, but it is neighbouring regions that are showing greater strength for the moment, and shouldering the bulk of the weight. Property values in the East and South East of England have seen the biggest boosts on a yearly basis, while annual growth in the capital has more than halved in the month since March.
"But this was simply part of a wider slowdown submerging the country in April, when we were still wading through competing election promises, and when demand at the highest rungs of the market was being dampened by a possible Mansion Tax. Now the ink has dried on the ballot papers, were back onto firmer territory. More recent barometers of the property market indicate favourable conditions with low mortgage rates and cheaper stamp duty costs keeping demand for homes buoyant, and carrying along a tide of buyer confidence. At the frontline of the property market, weve already seen a 5% jump in new buyer registrations since May, and well soon see a new offensive in activity levels as a result, which will help the onward march of price growth."