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September 28, 2015

Land Registry Eastern promise

Filed under: Latest News — Four Communications @ 3:44 pm

Buyers are looking East, with Newham in East London achieving the highest price growth in the capital at 15.5 per cent in the past year and in the East of England’s performance as the region outside the capital with the most significant price increase at 8.4 per cent, according to Nicholas Leeming, Chairman of national agents Jackson-Stops & Staff, with 44 offices nationwide, in response to today’s Land Registry House Price Index.

He said: “Buyers are seeking areas offering the best value and proximity to work, which reflects not only the performance in the East of England, where the Cambridge effect and regional investment are bearing fruit, but also in boroughs such as Newham and Barking and Dagenham. On the wider front we are seeing a continuing trend of higher property values for reported sales, but of more concern is the reducing numbers of properties coming to the market. However this supply constraint in the middle markets is not being matched in the higher value sector, where many properties are struggling to find buyers at their current guide prices, mainly because of the effect that the stamp duty increase last year has had.”