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An update from Jackson-Stops on home moving Hide
Property as a political see-saw must stop
Leading property Nicholas Leeming today called for an end to all the major political parties exploiting housing and the property market as a political see-saw - as the latest figures from the Land Registry shows a monthly price decrease of 0.8 per cent. Nicholas Leeming, Chairman of national estate agents Jackson-Stops & Staff, with 44 offices nationwide, blamed the cooling in the London market on political uncertainties and the risk of higher value property taxation. London saw a monthly increase of 0.2 per cent, although the annual increase is the highest at 11.3 per cent. He said: "Our politicians are indulging in see-saw politics, causing confusion and uncertainty among homeowners and investors. Many vendors are failing to adjust to current market conditions with unrealistic guide prices and this has resulted in the number of property transactions reducing substantially. International buyers are showing caution and some will not commit to purchases for as long as the outcome to the election remains in doubt." Nicholas Leeming welcomed the news that the economic upturn is continuing to deliver good news to areas outside the capital. He said:" The market outside London is seeing increased activity with values up by an average of 0.8 per cent in the South-east as the regional economies prosper, the cost of mortgages remain low and confidence feeds through into this sector. "Higher value properties outside London are also affected by political uncertainties: sales of between 1 2m and above remain slow with values reflecting more limited demand."