Comment on ONS' HPI for May 2015
Tue 14 Jul 2015
Peter Rollings, CEO of Marsh & Parsons, comments: "A few months ago it would have been unthinkable that house prices in London would be rising at a slower rate than the national average. Yet the rates of growth seen in the East and South East have overshadowed London, which was disrupted by the storm of the general election and dampened by talk of a Mansion Tax.
"However, throughout the remainder of May once the ballot papers were in growth improved across the country. And perhaps the most revealing indicator is that the 0.9% month-on-month jump is stronger than we experienced a year ago. In the last month, we have seen more and more properties come on to the market, which matches a higher demand from more confident buyers. Demand for mortgages is firmly on the up, and as buyers get their finances in order, a new wave of activity will carry prices forward over the summer months."