Managing Director of Ascend Properties, Ged McPartlin, commented:
“It’s great to see a changing of the guard in terms of the regions driving current house price performance. While London and the South East have traditionally acted as the predominant indicators of market health, it’s now the turn of Wales and much of the North to take centre stage.
This regional acceleration has been largely driven by a far more affordable property price and a stamp duty saving that has allowed many buyers to increase their purchasing potential.”
Managing Director of Barrows and Forrester, James Forrester, commented:
“Despite the prospect of a stamp duty saving now unlikely for many homebuyers the market continues to move forward at pace, driven by an appetite for homeownership not seen since before the financial crisis. While the expiry of the stamp duty holiday is expected to have some impact, it’s unlikely to derail a market that continues to see buyers enter in their droves, buoyed by low interest rates and 95% mortgage availability.”
Director of Benham and Reeves, Marc von Grundherr, commented:
“It’s probably unfair to say London is lagging behind where the current property market boom is concerned, considering it was already streets ahead of the rest, to begin with. The higher price of property in the capital means that any increase is always going to be more measured but to assume the London market is on its knees couldn’t be further from the reality.
Transactions are starting to climb, bolstered by both a return to the workplace and an influx of foreign buyers, and these influences will only boost the London market further as the year goes on.”
Matthew Cooper, Founder & Managing Director of Yes Homebuyers, commented:
“Enjoy the boom while it lasts because if history has taught us anything, a bust is likely to follow. The government’s insistence on artificially fuelling house prices, not only with a stamp duty holiday extension but now in the form of 95% mortgages and a rehash of the Help to Buy scheme, is irresponsible, to say the least.
With the market already buckling under the pressure, it’s only a matter of time before it gives in, bringing property values down with it.”
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