UK property market 'unhealthy despite London strength'
Record property prices are entirely down to high demand in certain areas rather than being a true reflection of the health of Britain's housing market, an expert believes.
According to Jane Marr, company director at the Little House Company, it is misleading to suggest that the sector as a whole is enjoying a renaissance in the wake of the recession.
Earlier this week (April 16th), a report by Rightmove revealed that Nationwide asking prices went up by 2.9 per cent in April, but Ms Marr indicated this increase is predominantly down to the fact costs in some regions have risen significantly.
For instance, London has seen its property prices rocket by 14.9 per cent since May 2008, with costs in Southwark going up 6.7 per cent in the last month alone.
With this in mind, Ms Marr insisted that the fact "desirable properties in high-demand locations" are attracting buyers who are prepared to pay higher prices does not mean other areas of the market are healthy.
Posted by Ben Carter
Published 18th April, 2012
© 2012 Estates IT Limited
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