Peter Rollings commenting in response to Halifax's latest House Price Index
Tue 06 Nov 2012
"Halifaxs figures portray a downbeat performance from house prices in recent months, and reflect the troubled state of the national housing market. Buyers spending power is still squeezed, with wage inflation still lagging behind the growing cost of living, and while there are signs that mortgage lending is beginning to head in the right direction, it will be quite some time before it returns to the level needed for significant improvement in the number of buyers able to move home each month.
"The tale is very different in London. While house price growth has been steadying in recent months, prime areas in the capital are still seeing double digit annual growth as a result of the demand from wealthier equity rich buyers, and this is helping support the average national house price."