Property market likely to ‘prove busy’ in first few months of 2025
Estate agency membership body Propertymark are one of the first to release their property market report for the new year, boldly asserting the first few months of 2025 are likely to ‘prove busy for the sales market, with stock coming to the market and consumers showing they are keen to stay ahead of Stamp Duty […]
Rightmove predicts 1.15m transactions in 2025
The annual jostling around predictions for the 2025 property is well underway with Rightmove the latest to lend its thoughts on what the 2025 property market might look like. The headlines from the property portal’s predictions include an uplift in transaction volumes; a series of Bank of England base rate cuts throughout the year, and a […]
Labour sets out planning reforms and Golden Rules for 1.5m homes
In an effort to build the 1.5m new homes the Labour party committed to in its election manifesto, the government has announced major changes to planning rules in the National Planning Policy Framework (NPPF) including additional money for council planning offices, and mandatory housing targets for councils. A series of Golden Rules have been introduced […]
Market enters 2025 with momentum but proceed with caution – RICS
A fifth successive month of increased buyer demand will see the property market enter 2025 in rude but there is a warning from the Royal Institution of Chartered Surveyors a reduction in market appraisals could see a slowdown in the opening months of next year. The data is taken from RICS monthly UK Residential Survey, […]
Survey highlights disconnect between home buyers’ expectations and reality
A survey of homebuyers has identified a sizeable disconnect between expectations around the length of time it takes to move home, and the reality; in some cases, homebuying is taking over three times longer than buyers expect. 57% of respondents thought the homebuying process would take less than two months from when the offer was […]
Increase in Welsh Land Transaction Tax surcharge effective today
Land Transaction Tax (LTT) in Wales is to increase by 1% today (11th December) following the publication of the Welsh government’s draft budget. The higher date of LTT applies to second home purchases with Cabinet Secretary for Finance and Welsh Language Mark Drakeford indicating the increase will raise an additional estimated £7m in 2025-26, which […]
PI giant enters conveyancing with comparison service
Claims management company First4Lawyers has entered the conveyancing market with a new comparison platform for home buyers and sellers. The group says it spotted a gap in the market for a service which compared firms not just on price but also on expertise and online reviews from independent sites such as Trustpilot. Following an initial […]
Government to consult on new “Right to Buy”
An updated ‘Right to Buy’ scheme could ‘protect and reverse the decline in much needed council housing’ Deputy Prime Minister Angela Rayner has said paving the way for ‘longstanding tenants to buy their own homes while at the same time crucially supporting councils to protect and rebuild their depleted housing stock.’ A consultation has been […]
First-of-its-kind survey launches to capture the voice of women in property
A survey to capture the voice of women working in property has been launched with women from across the residential property sectors encouraged to contribute. Survey author Susan Gregory describes the ambition of the survey to capture the voice and experience of women working across the property sector and is one of, if not the, […]
Search partnership to raise awareness of coastal erosion risks for homebuyers
A new partnership will aim to raise awareness of the risks to property associated with coastal erosion for both consumers and professionals. CoastClear is a newly launched a consumer awareness website, designed to provide homebuyers, households and conveyancing solicitors with essential information on the potential impact of coastal erosion on communities and businesses. The initiative […]
HMLR Survey: Help Shape the Future of Digital Conveyancing
An online survey has been launched by HM Land Registry to understand the extent of digital adoption among conveyancing firms. In particular the survey asks questions about firms’s current experience of digital tools, including third parties to order ID and AML checks, searches, and post-completion services to HMLR; and what plans firms have to adopt […]
PEXA launch reported takeover bid for Dye & Durham
Australian press outlets have reported PEXA have launched a takeover bid for Canadian technology firm Dye & Durham. In January 2022, Dye & Durham announced its intention to acquire a 43% ownership stake in PEXA Group through its acquisition of Link Group; the acquisition was later referred to the Australian Competition and Consumer Commission (ACCC), the Australian equivalent of […]
Cost of moving down on 2023 but double 10 years ago
The cost of moving has fallen from its peak in 2023 but remains twice the cost of moving compared to ten years ago. And the issue is exacerbated in London and the South East where it costs nearly twice the national average. For the latest Cost of Moving Report 2024 from home moving comparison website […]
Market busier than this time last year with more completions on the way – Rightmove
The number of sales being agreed is still 26% ahead of the quieter market at this time in 2023 with the number of new seller coming to market 6% ahead of the same period a year ago. The figures have been released by Rightmove in their latest House Price Index and show ‘some early signs […]
HMLR “disappointed” by PCS strike ballot
HM Land Registry has described the decision by the Public and Commercial Services (PCS) Union to ballot members on strike action over plans to return to the office for a minimum number of days per week as ‘disappointing.’ The agency has said it consider industrial action to be ‘a last resort’ adding it is ‘committed […]
Just 11% of homeowners return to their previous conveyancer
Just 11% of homeowners return to the firm who completed their property purchase according to newly released data, despite 3/4 saying they would use their conveyancer again. Research compiled by TwentyConvey, part of TwentyCi, reviewed 30,000 sale transactions and identified just 11% of them were being transacted by the same firm who last bought the […]
Sellers undeterred by Budget says estate agency
84,000 more homes have hit the property market following the Autumn Budget indicating sellers were undeterred by the first Labour Budget in 14 years according to online estate agency Yopa. The agency reviewed for sale stock listings sourced from Rightmove looking at total market listings and what number had been listed for sale in the […]
HMLR staff could strike following plans to mandate office return
The Public and Commercial Services (PCS) union has said it will ballot workers at HM Land Registry over plans to ‘order’ staff to work in the office three day a week. PCS members at offices in Croydon, Birkenhead, Coventry, Durham, Lancashire, Gloucester, Hull, Leicester, Nottingham, Peterborough, Plymouth, Telford, Wales, Weymouth will be asked whether they […]
“Sharp rise” in interventions prompts client account consultation
The Solicitors Regulation Authority (SRA) has launched its anticipated consultation on client money in legal services to review whether it remains appropriate for law firms to continue to hold significant funds in their accounts. The regulator announced plans to launch its consultation last week with SRA Chair Anna Bradley saying the reforms would tighten the […]
Agents still failing to provide material and up front information
Recently conducted research has concluded estate agents continue to fail to provide material and up front information for would-be home buyers, falling foul of consumer protection regulations. The Consumer Protection from Unfair Trading Regulations 2008 superseded the Property Misdescriptions Act 1991 in 2013, effectively requiring estate agents to provide ‘material information’ for the benefit of […]