Liquid error: wrong number of arguments (2 for 1) Peter Rollings' press response to the latest Land Registry figures | Marsh & Parsons Sales and Lettings Estate Agents London

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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.

London has been at the forefront of any climb in house prices since the initial recession, insulated by its higher level of cash buyers, and June was no different. Nearly two-thirds of buyers in prime central London are purchasing without a mortgage, and this wealth is still filtering out. While dwindling level of available property is reining in overall sales figures, robust demand from overseas investors has helped recession-proof the capitals prices since we entered the double-dip.

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