The conveyancing market is still developing
30th Nov 2017
It’s been reported that following a drop in conveyancing activity in quarter two 2017, the third quarter of this year saw a significant 21% rise.
Volumes in Q3 reached 254,606 across the country, compared to a four-year low in the previous quarter of 210,964. It is still down 6% however, from quarter 3 last year.
After the noticeable dip in conveyancing activity across many firms during quarter two, it’s really encouraging to see a rise in business through the late summer and autumn period. The conveyancing industry has broadly rebounded to ‘business as usual’, picking up where it left off at the beginning of the year.
Our conveyancing teams have continued to be busy throughout out the year, though we have noticed an increase in business levels into the autumn. The new build market is looking particularly buoyant, as the developers we work with increase the volumes of houses they are building and have a ready market of buyers.
Waiving stamp duty for first time buyers purchasing a property under £300,000 should provide a further boost for the regional housing market, where prices remain competitive. This is great news for homebuyers and great news for the property industry and should go some way to addressing the uncertainty and affordability issues that have been hampering the housing market in recent months.
The chancellor has also outlined a long-term goal to build 300,000 homes a year by the mid-2020s. An additional £15.3bn in capital funding for the housing market will also be available, taking the total support offered by the government up to £44bn.
We work closely with a variety of national housebuilders who are investing heavily in their house building in Norfolk. The stamp duty waiver, combined with the existing help to buy scheme and ISA facilities available to first time buyers will underpin a strong growth in the new build market.
The busy conveyancing teams in our offices in Norwich and Attleborough work closely with a wide cross section of housebuilders from small specialist companies offering bespoke properties, through to large national developers offering hundreds of houses on each site. We think that it is important to understand how important buying a home is to our clients and want to guide them through the entire process with the minimum fuss.
As we deal with such a wide variety of developers we understand their needs, so we have the skills and knowledge to navigate through the legal process quickly and efficiently.
If you are thinking of buying or selling a house or want legal help to sell new build properties you can contact our experts in Norwich at firstname.lastname@example.org or on 01603 675633 or Marc Greig in Attleborough at email@example.com or on 01953 458160.
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