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House price stagnation 'looks set to continue'

THE hometrack national March survey of the housing market reports zero house price inflation for this month. This follows a 10-month steady decline in house price inflation since May's peak of two per cent.

The slowdown has been particularly marked in London and the South East.

On average, it is currently taking five weeks to sell a home and there are 12 viewings per property sold. This is well down on the 2.8 weeks to sell and nine viewings per sale recorded at the height of the boom in May last year. All these statistics point to a further deterioration of house prices in the coming months.

John Wriglesworth, hometrack's housing economist, said: "House price stagnation looks set to continue, led by a marked slowdown in activity in London and in the South East. Prospective home hunters are holding back from buying, not least due to worries and insecurity over the consequences of the war with Iraq. Fear dissuades people from moving and they stay put."

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DAVID Wilson Homes has appointed Greg Locke as chairman of its Eastern division which includes the company’s Home Counties region.

He joins after 12 years with Redrow Homes, having served six years as a main board director.

He said: “I am joining at a time when the company is moving forward and already I see many exciting possibilities to grow our business.”

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HOMES on the Wilson Connolly St. Augustine's development at Chartham have been selling well, but it is the Thornton three-bedroom three-storey townhouse which seems to be most in demand at present.

"One of the most appealing factors seems to be the flexible living options a 'Thornton' provides," said Caron Hutchins, sales manager. "A separate dining and living room allows for scope for other uses and if not all the bedrooms are required for sleeping, again, other alternatives are very practical."

The sales centre is open daily from 10am to 5.30pm or telephone 01227 732599 for further details. Alternatively visit the web site www.wilsonconnolly.co.uk

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STRUTT & Parker has appointed Anthony Cane as senior partner. He assumes his role on May 1.

James Donald, who has held the position for the last seven years, is stepping down and will devote more time to commercial client work for the firm.

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