Most UK House prices still below peak

Nick Leeming, chairman of Jackson-Stops & Staff, says that contrary to some media speculation about a nationwide surge in the housing market, most of the country’s prices are still below their pre-downturn 2007 peak.

Leeming says his company’s 44 offices across London and the UK show that – outside of the capital – both the volume and higher end are below peak.

“Help to Buy has been useful but the north [of England] would benefit from more immediate regional assistance. Further south the lower end of the market is relatively buoyant but demand for higher value property remains patchy” he says.

Echoing comments by others in the industry who say that government policies are based on the unusually strong London market, Leeming adds: “The government must remember that London is another country and the rest of the UK continues to need measures that will support rather than stifle any recovery.”

Leeming says that in any case, the capital’s market is now “topping out” with demand below its recent high point.