Hometracks Housing Survey for January and February reveals just a 0.1% increase in London property values.
Richard Donnell, director of research at Hometrack, says: “Our latest survey shows a marked improvement in housing market conditions with February seeing an 18% increase in the number of applicants registering with agents. Activity amongst first-time buyers looking to beat the Stamp Duty holiday has provided an additional and artificial boost to the figures.”
However, Hometrack predicted that supply-demand balance suggests property prices will resume their decline in 2012 as Mortgage lending is restricted and the Government cuts take its toll
London Property Market News