Peter Rollings' press response to the latest Land Registry figures
Thu 26 Jul 2012
A shortage of supply may be helping prop up prices nationwide, but the true thermometer for the national housing market is the number of sales taking place. By this measure, the national market is far from fighting fit - even allowing for the disruptive end of the stamp duty rush. Tight lending criteria continues to thwart underlying buyer demand, at a time when consumer spending power is already under pressure. If lenders concerns about the ongoing eurozone crisis trump the impact of the funding for lending scheme, lending to new borrowers is unlikely to recover significantly, and credit worthy would-be buyers will continue to save for higher deposits and pay down debts rather than move.