Financial & Legal News

Conveyancing Solicitor Welcomes Good News in Housing Market

  • Posted on

Conveyancing Solicitor, Victoria Sweeney, of Pearson Solicitors in Oldham today welcomed news from Britain’s big housebuilders that sales were up and there was surging optimism around the housing market.

House prices rose at their fastest rate for almost three years in June as state stimulus schemes improved confidence and a property shortage fuelled a recovering housing market.

Prices between April and June rose 3.7 per cent on a year earlier to an average of £167,984, the biggest increase since August 2010, according to mortgage lender Halifax.

“Optimism in the market can only be a good thing for both sellers and for the many potential purchasers who for the past few years have been unable to consider moving home for a variety of reasons,” said Victoria.

“Whether you need to move to accommodate a growing family, or need to downsize it’s important to get honest reliable advice from a solicitor to help your move proceed smoothly.

“I also welcome any measures that help first-time buyers get a foothold on the property ladder and enjoy helping them along the way to their first home,” she added.

Britain’s big housebuilders Barratt, Bovis, Persimmon and Taylor Wimpey have all praised the impact of Government measures to stimulate the market and say improved mortgage availability and the Government's Help to Buy scheme - which allows people to buy a home with a 5 per cent deposit - are tempting buyers back to the market.

The Royal Institution of Chartered Surveyors also said its findings for June point to the "beginning of a recovery," with the month also being the strongest for house price increases in more than three years as demand from would-be buyers strengthens.

In addition mortgage approvals soared to their highest level in three-and-a-half years in May, with 58,242 loans approved for house purchases, the Bank of England said recently. That was up from 54,354 in April and the highest level since December 2009.

Victoria added: "Pearson Solicitors can help with all areas of house sales and purchases, as well as remortgaging and this is good news for clients who want to sell.  Confidence in both the housing market and the economy does have an impact and can also encourage people to make that important step towards purchasing their next house.”

Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

This blog was posted some time ago and its contents may now be out of date. For the latest legal position relating to these issues, get in touch with the author - or make an enquiry now.

    How can we help?

    Please fill in the form and we’ll get back to you as soon as we can.