Conveyancing Defies Brexit Uncertainty To Hit Post-EU Referendum High In Q4 2018
The average number of cases conveyancing firms dealt with in Q4 2018 (65) was the highest quarterly figure recorded since before the 2016 referendum on the UK’s membership of the European Union Total conveyancing volumes in the market were up 8% in Q4 2018 from the previous quarter as the industry enjoyed a strong end […]
UK Property Transactions Fall By Over A Third
UK property transactions have been shrinking at their most alarming rate in over five years according to recent research. The study into UK residential property transactions, carried out by estate agent software platform, Reapit, has found that UK property transactions have fallen by over a third in the past three months. Property transactions between November […]
Paralysis Continues To Grip The Property Market
Search Acumen comments on HMRC’s Monthly Property Transactions Andy Sommerville, Director of Search Acumen, comments: “Paralysis continues to grip the property market, with activity remaining flat. First-time buyers are accounting for a significant chunk of the limited market activity, while those few who need to move, despite wider uncertainty, are also helping to keeping the […]
Brexit Cast A Shadow Over The UK Property Market, Leaving The Market Flattened
Search Acumen comments on HMRC’s Monthly Property Transactions for December Andy Sommerville, Director of Search Acumen, comments: “Brexit clearly cast a shadow over the UK property market in the run-up to Christmas, leaving the market flattened as a result. It’s likely the same shadow will extend into January once the first 2019 indicators emerge. “Uncertainty […]
House Building On The Rise – So Why Are We Still In Crisis?
Search Acumen comments on ONS Housebuilding Statistics September Quarter 2018 Andy Sommerville, Director at Search Acumen, comments: “We’ve found ourselves in a situation where we’re on track to have built nearly 160,000 new homes in England in 2018, but supply and demand constraints mean we’re in the midst of a housing crisis. The price for an […]
New Private Housing Construction Increases In November
November’s construction output in Great Britain, released by the Office for National Statistics, has found that all work has increased by 2.1% on a quarterly to quarterly series. All new work had increased by 3.4% during this time, with the overall figure being driven down slightly by declining repair and maintenance, which witnessed a fall […]
Brexit Uncertainty Drives Down Private Commercial Developments
Search Acumen comments on ONS Construction output in Great Britain, 11 January 2019 Andy Sommerville, Director at Search Acumen, comments: “The UK’s construction output continued to rise at a pace at the back end of 2018, no doubt fuelled by the impact that a strong Help to Buy scheme has had on the residential sector, particularly […]
Act Now To Protect Your Conveyancing Firm From An Uncertain Future
The Royal Institution of Chartered Surveyors warned this week that the UK housing market has a tough year ahead of it. The organisation reported that the housing market has lacked impetus this year, due to Brexit uncertainty, lack of supply, affordability constraints and the possibility of interest rate increases. The most recent Market Tracker report […]
Conveyancing Firms Fall To Lowest Levels Since 2011
According to Search Acuman’s Conveyancing Market Tracker quarter three statistics, active conveyancing firms operating in England and Wales have fallen to their lowest levels since records began in 2011. In particular, the number of smaller conveyancing firms that are able to process and complete up to twenty-five cases per month have dropped by 10% in […]
Conveyancing Firms At All-Time Low As Smaller Businesses Fall Victim To Market Consolidation
Number of active conveyancing firms in England and Wales down to the lowest since records began in 2011 The number of smaller conveyancers (handling up to 25 cases a month) has reduced by 10% in the last five years, while larger conveyancing firms (handling over 50 cases a month) has risen by a third (31%) […]
UK Government Signposts A Propdata Revolution To Fuel Housing Reforms
In recent months, the UK Government’s commitment to housing reform has become increasingly certain – and one of the ways it is trying to underpin that is by making more property data available. A recent call by the Ministry for Homes, Communities and Local Government (MHCLG) for evidence in how to improve the house buying […]
Price Transparency Update: One Week To Compliance Deadline
From 6 December 2018, new transparency rules set out by the Solicitors Regulation Authority (SRA) mean that firms must display more detailed price and service information if they work in specific areas. To help legal service professions remain compliant, the SRA has now published additional guidance and a handy infographic on these rules. The instructions […]
Has The Government Opened Their Eyes Up To The UK’s Housing Crisis?
In answer to the nation’s housing predicament, the Prime Minster Theresa May announced in her speech to the National Housing Federation in September that the UK Government would be spending £2bn to boost the country’s affordable and social housing supply. As the first Prime Minister to talk at the event, Theresa May comments on the […]
Blackpool’s £250 Million Property Market Up By 19% In Three Years
Blackpool’s £250 million property market up by 19% in three years, as town prepares for digital data switch-over Blackpool’s property market experiences 19% growth in just three years, as the annual value of sales reaches £241m in 2017 Value of market in H1 2018 reaches £133 million, indicating Blackpool on track for another record year […]
ONS UK Price Index Suggests Marginal Improvement In Property Market
The latest Office of National Statistics UK House Price Index Report has confirmed the market’s slowing growth. In the year to September, average house prices have increased by 3.5%, this is an increase of 0.4% from the 3.1% growth a month earlier. However, the report indicates a significant slowdown in house price growth over the […]
UK Property Transactions Decrease In September
HM Revenue and Customs have released their UK Property Transactions Count for September. Continuing the downward trend in sales, the results hint at an upward trajectory of slight pessimism in the market. The seasonally adjusted UK property transactions for residential and non-residential property in September 2018 of 98,400 completed transactions is down on August’s figures […]
House Prices Reach Affordability Breaking Point
Following huge growth in house prices over the past decade, the UK House Price Index for August 2018, has highlighted a slowdown in the market for the last two years. Many are speculating that stagnant wages have caused the housing market to hit an affordability ceiling point. Average house prices in the UK have increased […]
Corporate Bodies Own More Than 3,000 Square Metres Of Land For Every Household In England And Wales
Land holdings amount to three five-a-side football pitches or 12 tennis courts for every household across England and Wales South East has the largest area of land owned by domestic corporate and commercial entities – nearly a fifth (19%) of the total across England and Wales Highest concentration is in the North East, where corporate […]
London’s Commercial Property Transactions More Than Double In Three Years
The number of commercial transactions has grown by 114% from 7,445 in 2014 to 15,939 in 2017, with 2018 set to be another bumper year Commercial transactions now account for almost one in four (23%) property transactions in London in 2018, up from one in ten in 2014 The value of London’s annual commercial transactions […]
London’s Commercial Property Transactions More Than Double In Three Years
The number of commercial transactions has grown by 114% from 7,445 in 2014 to 15,939 in 2017, with 2018 set to be another bumper year Commercial transactions now account for almost one in four (23%) property transactions in London in 2018, up from one in ten in 2014 The value of London’s annual commercial transactions […]