Comment on Land Registry House Price Index for July 2014

Peter Rollings, CEO of Marsh & Parsons, commented: “The London property market is starkly different to what we’re seeing elsewhere in the country, where prices in London have climbed more in the month of July, than the whole of the last year in the North East. But the capital has always been an anomaly, a few steps ahead of the curve, and while the London market is now stabilising following a whirlwind few months of growth, parts of the UK are still waiting for the housing market recovery to ramp-up.

“After months of talks of a housing shortage – particularly in London – supply levels are making a comeback. In the current calmer climate, sellers are emboldened to take their next step up the ladder and put their homes on the market, which is refreshing the choice available to buyers and relaxing the competition. This will spur on sales, but also ease house price rises to healthy and attainable levels, sustaining steady upwards growth for the remainder of the year.”