“With London house prices up 12.4% in the year to March, according to the Land Registry, the capital’s housing market doesn’t appear to be slowing down anytime soon.
“While parts of the country are starting to see a slowdown in price rises, with Wales witnessing a significant fall month-on-month, the capital defies the odds. Pressure to buy is still considerable with many buyers competing via open houses and sealed bids for a limited amount of stock.
“The increased availability of mortgage finance at higher loan-to-values is finally making it possible for many frustrated first-time buyers to take a step onto the ladder. The real challenge is finding a property you can afford to buy and being able to secure it in the face of stiff competition before prices move higher still.”