Search Acumen comments on the Land Registry House Price Index for March 2016

Print This Post

3 May 2016


Search Acumen200Andy Sommerville, Director of Search Acumen, comments on the Land Registry House Price Index for March, 2016:

“A slight drop in prices across the country for the first time in a year will provide some relief to first time buyers looking to get on the property ladder, but sadly, London property continues to see huge increases in prices.

“While this spike could be attributed to the surge in buy to let investment prior to the April 1st stamp duty hike, London unequivocally remains attractive to ambitious young people above other cities where house prices are more reasonable.

“Land Registry’s figures reveal a pressing need for more new homes in London. Housing will be the defining issue in next week’s London mayoral election and although both Labour and Conservative mayoral candidates have pledged to deliver new homes for the capital, the pressure will be on the new mayor to take the crisis by the horns.

“Today’s figures come at a time when planning approvals within the capital have been falling, and the spillover of unaffordability has spread to areas around its commuter belt.

Building on Brownfield land cannot be the only solution, and could be exhausted within six years. None of us want to go there, but ‘not in our backyard’ will simply not do anymore – we need to give serious thought to building homes on the Greenbelt around the capital.”

 



Associate News is provided by Legal Futures Associates.
Find out about becoming an Associate



Legal Futures Blog

Gathering speed: The lawtech start-up world you can no longer ignore

Technology

If there are any lawyers out there who are starting to relax, believing that predictions of the demise of law as we have known it in the face of technological change have been exaggerated, they should think again as 2017 begins. A growing hum of activity by the sort of bright and industrious people who have transformed the world in many other respects is being heard in legal corridors hitherto largely undisturbed by the modern world. As their ideas achieve traction, they will disrupt the profession and perhaps even displace lawyers who imagined their careers were set to last a lifetime.

January 23rd, 2017