High inflation results in slight drop in cost of conveyancing
The quarterly Conveyancing Costs Index from home moving company reallymoving shows the cost of conveyancing dropped slightly in Q2, with a decrease of 0.1% taking the average cost of services to £2,435. Adjusted for inflation, costs fell by 1.9% compared to the previous quarter and 1.2% annually. Despite the dip, seven out of 12 UK […]
Inadequate building safety regime ‘a minefield for conveyancers and needs urgent reform’
The Chartered Institute of Legal Executives (CILEX) says building safety regulations are inadequate and will put government plans to deliver 1.5 million new homes at risk unless they are urgently reformed. Implementation of the Building Safety Act has created ‘a minefield’ for conveyancers if the building is more than five storeys or 11 metres tall, […]
Bank of England data shows third consecutive monthly increase in mortgage approvals
New Bank of England money and credit data shows net mortgage approvals for house purchases increased by 800 to 65,400 in July – the third consecutive monthly increase after falling for the previous four. Approvals for remortgaging decreased by 2,700 to 38,900. ‘It’s a slow climb, and the mortgage market is hardly shooting the lights out, […]
Demand is high in buyers’ market, with one in 10 homes reduced – Zoopla
The latest House Price Index from Zoopla shows higher buyer demand and more sales agreed than the same period last year, with house price growth stabilising over the summer months. In the four weeks to 17 August, year-on-year demand increased by 4%, sales agreed were up by 5% and the stock of new homes for […]
New upfront sellers survey aims ‘to set new standard for property information’
A seller-commissioned pre-marketing property report launched by software provider Skyline Surveyors aims to tackle the housing market’s lack of upfront information and ‘set a new standard’ for the industry. The Home Insight Survey has been designed to deliver clear and independent insight from the moment a property is listed, with the aim of speeding up […]
‘Nowhere to hide’ from stamp duty, as HMRC collects £1.4bn in July
Figures released by HMRC reveal over £1.4 billion in stamp duty was collected in July, up from just under £1.1 billion in June. The latest figures take the total for 2025 to slightly over £8 billion, compared to just over £6.6 billion for the same period in 2024. An analysis of the data by Coventry […]
‘Mansion tax’ proposals could see CGT charged on high value homes
Following the news the government is considering introducing a national property tax in place of Stamp Duty, it has been further reported a ‘mansion tax’ is under consideration by the Treasury in an attempt to plug the £40bn gap in public finances. It is understood the October budget, the date of which is yet to […]
The changing face of housing: high under-occupation and more solar panels
A Nationwide report into the changing face of England’s housing stock reveals an increase in the number of dwellings, but finds that more than half of owner-occupied properties are under-occupied. Uptake of green measures remains low, but solar panels are increasing in popularity. The report – based on data from the English Housing Survey – […]
Steep north-south divide in homes liable for property tax – plus industry reaction
Data from Rightmove has revealed a stark north-south divide in the number of homes that would be liable for the new property tax mooted by the government this week. In London, 59% of homes for sale are priced at £500,000 or more, with 39% of homes in the South East and 28% in the South […]
‘Confidence is returning’ as house prices rise 1.4% in June – reaction to ONS house price index
Average UK house prices increased by 1.4% between May and June, up from an increase of 0.4% in the same period 12 months ago, according to the latest data from the ONS. Annual prices rose by 3.7% in the year to June 2025, up from a revised estimate of 2.7% in the 12 months to […]
Inflation rise ‘not all doom and gloom’
The Consumer Prices Index (CPI) rose by 3.8% in the 12 months to July, up from 3.6% in the 12 months to June and the highest recorded increase since January 2024. On a monthly basis, July saw a 0.1% increase, compared with a 0.2% fall in the same month last year. The announcement was met […]
National property tax could replace stamp duty ‘within this parliament’
Chancellor Rachel Reeves is assessing the benefits of a new national property tax that could replace stamp duty, according to reports in The Guardian, paid on the sale of owner-occupied homes worth more than £500,000. The feasibility of the proportional property tax is being examined and modeled by government officials and could be implemented within […]
‘Stable demand bodes well for coming months’ – Rightmove
With recent reports of declining housing market health disrupting the optimism of recent months, Rightmove’s latest house price index offers a more reassuring outlook. The largest monthly sample of residential property prices and housing market activity reports an 8% increase in the number of sales compared to the same period last year, with lower asking […]
High demand will see residential transactions reach 1.18m this year – TwentyEA
Data compiled by analytics specialists TwentyEA suggests residential property transactions will reach 1.18 million by the end of the year – the highest level seen since 2022. TwentyEA’s analysis shows the volume of sales agreed has reached 791,000 so far this year (January to July) – 6.8% higher than the same period in 2024. HMRC […]
Failings in management of politically exposed person cost solicitor £82,500
A firm manager has been fined £32,500 and ordered to pay costs of £50,000 following a series of regulatory breaches while acting for a politically exposed person (PEP). Three of five allegations made by the Solicitors Regulatory Authority (SRA) against Rory Peter Heddle Fordyce – who has also been subjected to restrictions on employment and […]
RICS survey paints gloomy picture at odds with recent sector optimism
The latest monthly sentiment survey of chartered surveyors in the residential sales market shows signs of a faltering market, after several months of positive figures and sector optimism. The Residential Market Survey from the Royal Institute of Chartered Surveyors (RICS) conveys a ‘relatively weak backdrop’, with buyer demand and agreed sales falling back into negative […]
Bank of England rate cut is ‘the shot in the arm the property sector has been waiting for’
In a widely expected decision, the Bank of England’s Monetary Policy Committee has cut interest rates to 4% – a move that property and finance experts agree will stimulate the housing market and provide a much-needed boost to those facing affordability challenges. Jonathan Handford, managing director of Fine & Country, said cutting the base rate […]
SLC issues new climate change client guide
The Society of Licensed Conveyancers (SLC) has issued a new client guide on the effects of climate change, which it says will help conveyancing clients to help source information and expert advice. The guide follows the release of the Law Society’s recent practice note, which outlines the expectations on property lawyers when it comes to […]
House prices rise 0.4% and ‘affordability is gradually improving’ – Halifax
A 0.4% increase in house prices announced by Halifax has been welcomed as good news for consumers, with the building society saying it expects modest gains to last throughout the year. With easing mortgage rates, rising wages and more flexible affordability assessments, the result is ‘a housing market that continues to show resilience’. ‘Challenges remain […]
HMLR is accepting QES and encourages conveyancers to ‘start using now’
HM Land Registry has announced it is accepting Qualified Electronic Signatures (QES) and is encouraging conveyancers to start submitting applications signed using the digital tool straight away. ‘QES are the most secure form of electronic signature – no paper or witness needed’, HMLR said. Pointing out that the signature tools use ‘long-established, well-regulated technology’, the […]