The prime sector remains fairly flat and it is the new homes sector, with a high proportion of investors, which is largely driving growth across the capital.Nick Barnes, Head of Research
Top 5 London boroughs: house price growth
Further signs of a slowing market are apparent in the latest residential data. Price growth, mortgage lending and transaction numbers are all lower than last month while available stock remains in short supply.
Stock shortages in particular are dampening sales in the general market as buyer appetite is surprisingly robust as indicated by record January web visits on several property portals.
At regional level, London, the East and South East remain the strongest markets and are maintaining the gap with the rest of the country in terms of price growth. However, growing evidence of a buyer's market suggests that price growth will continue to slow over the coming three months.
Regional average house prices and 12 month price growth (Jan 2015)