London drags down housing market

Head of lending for the Mortgage Advice Bureau, Brian Murphy, agreed that localised factors played a big role in the index’s findings.

He said: "The Rightmove House Price index provides a market snapshot from estate agents across the country, so provides us with an interesting insight into consumer behaviour.

"Localised factors, such as the recent lifting of tolls on the Severn Bridge and the ongoing infrastructure improvements around the Mersey Gateway are likely to be a contributing factor to the sustained levels of buyer demand in these areas.

"Elsewhere however, according to the data, the diverging market picture seems to be continuing and consistent on the previous twelve months or so, which again isn’t exactly unexpected.

"What does appear to be clear is that, regardless of region, there is still a discernible level of buyer and seller activity as pent-up demand appears to have given way to a degree of commitment."

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