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Despite Britain’s looming and increasingly uncertain departure from the EU, homebuyers are gradually returning to London’s property market due to falling property prices. Rightmove have reported an upturn in buyer activity which it says has indicated market recovery as average asking prices were half a percent lower — or £3,360 — than a year ago, at […]
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In December 2016, the Competition and Markets Authority (CMA) Published its Legal Services Market Study. It highlighted problems of transparency of price and quality and that consumers did not have enough information before employing a lawyer. Recommendations were made by the CMA, mainly to “deliver a step change in standards of transparency to help consumers (i) understand […]
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The Legal Services Board has given approval to the Council for Licensed Conveyancers to amend its rules and require licensed firms to improve information about costs and whether a referral fee has been paid to an agent. The aim of this is to enable consumers to make informed decisions about their choice of legal service […]
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The Mayor of London has announced a new housing partnership to build 5,000 new houses in the London District. This follows the money given to the city of London to build more affordable housing. Khan secured £1.67 billion from Government for London in the Spring Statement meaning he is able to build 5,000 of the […]
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Property prices in England and Wales increased by just 0.8% during the last year, from June 2017 to June 2018. Sales fell by 3.2% to their lowest level since the stamp duty reform in December 2014. Average prices in June (excluding new build) reached £287,558 whilst the price of a new home is now close […]
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The UK Government are forever bringing in new measures and policies around the housing sector but according to a survey, Britains number one wish is that gazumping is banned. When a sale is agreed on a house and then someone else comes along and offers more, is called gazumping and is hated by 55% of […]
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When it comes to money laundering and organised crime, there are some ‘Red Flag Indicators’ that conveyancers should be aware of. This advice could be particularly important following the announcement that conveyancers could be liable for identity fraud under new proposals put forward by the Law Commission. In particular, the CLC states that “several red flag indicators together, without reasonable […]
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Rental prices in London have risen to an average £2,000 a month, the highest it has been in three years. This is the first time that the capital has had the strongest-performing rental market since 2014. The price increase has been fueled by a shortage of new rental properties in the city meaning average rents […]
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The uncertainty surrounding Brexit has driven up the cost of overseas property, according to Hargreaves Landsdown Currency Service. Despite house prices in Spain still being 16% lower than they were in 2010, British buyers do not particularly benefit thanks to the falling pound. The drastic decline in the price of sterling since the EU referendum […]
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A third of British sellers have dropped the asking price of their homes at least once. This is the highest proportion in seven years according to the latest house price figures. The Rightmove House Price Index for July found sellers with houses on the higher end of the price spectrum were struggling to receive offers as […]
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