London remains as the strength leader for influencing the average house price in the UK. Throughout the recession is remained above the waters and did not face the declines seen elsewhere. Once incorporated into the house price average for all areas across the UK, it could lift a gloom report into one more hopeful.

Now that the recession has ended, and in the midst of uncertainty in the global market, again the status of the London housing market and the outlying areas offer an insight into the resilient consumer confidence. According to information released by Nationwide, the areas that serve London commuters, referred to as the “outer metropolitan” showed the strongest growth in the first quarter of 2016. Averages increased year on year to £344,371, a 12.2% growth level.

London remained in the growth column with the average house price increasing to £455,984 which is 11.5% more than the same time period last year.

Meanwhile, the UK average house price rose last month at the fastest pace since February 2015 with growth of 5.7% to £200,251.

Upcoming housing market reports will be very revealing to experts. The expectation is that the rush by buyers, mainly landlords and second home owners, to avoid the stamp duty increase that took effect on April 1 will die down. Therefore, the reports will naturally correct against the unusual push from buyers and will show a short lived decline before leveling off. However, some experts see the continued low interest rate offers from lenders and the increase in wage earnings keeping potential buyers focused.

A leveling off or slight increase in the average house price could also be forthcoming in future reports due to the low supply of properties both on and coming onto the market.

Continued strong demand therefore will translate over to the mortgage lending market as first time buyers, and home movers, as well as homeowners seeking a remortgage take up the void left behind by the landlords to take their opportunity at the continued low interest rate deals.