Andy Sommerville, Director of Search Acumen, comments on the Knight Frank/Markit House Price Sentiment Index (HPSI) – September 2015:
“Brits continue to expect house prices to escalate, with London and the South East – two regions in desperate need of a larger housing stock – leading the way; this, of course, offers little respite to prospective first-time buyers in general and puts a tighter squeeze on those hoping to take their inaugural steps on to the housing ladder in the capital and around its commuter belt.
“Once again, figures tell the tale of an imbalanced housing market desperately in need of better supply side measures.”
“A 0.7 percent month on month fall in number of people intending to buy property in the next few months is also worrying, and an intention to buy property within the next one or two years definitely hints at some buyers having been put off for the moment by the uncertainty around a base rate rise.”
“The property market is certainly not stunted, and is healthier and more robust than before, but we’re still nowhere near prerecession levels of activity.
“Until Christmas, we’re now likely to see conveyancers battle over a market that’s growing steadily, not rapidly, an indication that those businesses working harder for a sharper, competitive edge are likely to outpace their rivals.”