Despite a strong start to the year where house price growth is concerned, a month-on-month dip in mortgage approvals has caused many to speculate whether the pandemic property market boom may soon fizzle out. However, latest market analysis from specialist property lending experts, Octane Capital, has revealed that new buyer activity may already be slowing, […]Read More
Many small law firms are thinking big when it comes to the tech they need to see them through another period of profound change. But the latest research from LexisNexis’ Bellwether report shows that 47% say they have no plans to invest in any technology at all. Today, LexisNexis Legal & Professional released the 10th […]Read More
The April RICS Residential Market Survey shows that would-be buyers are still on the hunt for a new home, whilst stock levels and new listings remain scarce. This means that house prices continue to be pushed higher across all parts of the UK. This month +10% of respondents reported a rise in new buyers’ enquiries, […]Read More
This year’s Queen’s Speech has today outlined several legislative changes and the overhauling of laws around levelling up, planning and economic crime that could affect conveyancers. At the state opening of Parliament this morning, Prince Charles delivered the Queen’s speech as the monarch missed the opening for the first time in almost 60 years as […]Read More
As partners of Women in Residential Property (WIRP), we’re delighted to offer our readers an exclusive discount of 15% on tickets for the next WIRP lunch at Bank Restaurant in Birmingham on 23rd June. The event is open to anyone working in, or with an interest in the residential property industry. Guests will be treated […]Read More
I was thinking about the ongoing debate on LinkedIn about additional enquiries, and I think that there is something firms could do which would help with the need to raise what many would see as unnecessary enquiries. So, without being controversial and trying to teach lawyers how to do the job properly, can I please […]Read More
The latest mortgage approval statistics from the Bank of England (BoE) have been published. In its most recent release the figures show that mortgage approval levels dipped by -0.4% between March and February of this year. Figures were also -14.5% lower when compared to the same time last year. Experts from around the industry have […]Read More
April’s Halifax House Price Index (HPI) reveals average prices are up 10.8% in a year, to a record high of £286,079. The latest Halifax HPI report shows that house prices increased by 1.1% in April, and is the tenth consecutive monthly rise, the longest run since 2016. Prices have now increased by £47,568 in two […]Read More
It is interesting that, as we enter Mental Health Awareness Week, I have just had one of the worst weeks. I cannot say specifically what was so bad about the week; it was just a culmination of things which led to a feeling of despair on Friday and a “I don’t think I can do […]Read More
Today’s House Price Index from Zoopla has calculated that three million homes in the UK are now in a higher stamp duty bracket than at the start of the pandemic, thanks to rising house prices. The report, released today also reveals that first time buyers spend an average of £225,000 – up £27,000 on two […]Read More
Following on from last week and my thoughts about additional enquiries, I note that the discussion surrounding this rumbles on. Everyone seems to object to the raising of enquiries, so who is raising them? And what are the particular questions that everyone seems to be objecting to? This week, I received a letter from a […]Read More
The Building Safety Bill which started its passage through parliament last July received royal assent on Friday. Among the changes, which are now law, is the creation of a new building safety regulator for buildings higher than 18 metres as well as “waterfall” protections introduced to ensure leaseholders avoid footing the bill for remediation costs. […]Read More
The Nationwide House Price Index for April has been released, revealing a slight slow at 12.1%. Despite the slowing growth rate however, Nationwide’s latest House Price Index shows that the market is now enjoying its 11th consecutive month in double figures. In April the average price hit £267,620, up £28,789 since last April, and the […]Read More
Solicitors maintained services to their clients through successive lockdowns and many reported solid business performance for the first year of the pandemic, according to the Law Society of England and Wales law management section Financial Benchmarking Survey. In its 21st year, the survey looks at how law firms fared through the pandemic, providing an overview […]Read More
The latest Rightmove HPI data shows that despite growing economic headwinds, the 2022 market continues to set new milestones for price and activity levels. The price of property coming to market has hit a new record high for the third consecutive month. Month-on-month prices have risen by an average of 1.6% (+£5,537), and over the […]Read More
March HMRC monthly transaction data shows that while the number of residential transactions are down on the previous year, month-to-date levels continue to increase by almost 20% as we move further into the Spring. Today’s HMRC data showed that the cost of living crisis is yet to impact figures as provisional non-seasonally adjusted property sales were 110,990 […]Read More
Firms regulated by the Council for Licensed Conveyancers (CLC) will have to submit at least one application for professional indemnity insurance (PII) two months ahead of the renewal deadline, under plans agreed by the governing council and being submitted to the Legal Services Board (LSB) for approval. Insurers receiving applications will then be required to […]Read More
On the 25th May, Women in Residential Property will be running a webinar (12pm – 1.30pm) addressing the topic of Leasehold Reform. Heralded as the ‘biggest changes to leasehold in 40 years’, the proposed package of reforms will impact a broad swathe of the market, with over 4.5m leasehold properties in the UK. The Ground […]Read More
I was going to treat you to the opening scene of my new drama series The Move, but as I am mindful of always being topical, I am saving that pleasure for another time. Instead I want to talk about Additional Enquiries. This is a topic I have written about before. One of my pet […]Read More
New research from Unlatch found that once a property reaches the market and is listed for sale, it takes an average of 63 days for an existing property to reach sold subject to contract status (SSTC). A new-build takes slightly longer, averaging 67 days to reach the SSTC stage from the first point of listing. […]Read More
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