Property survey shows housing market back on right tracks, says expert
A new survey showing house prices lifted by 9.4% year on year in February has been welcomed by Coalville’s best known law firm
QualitySolicitors Mander Cruickshank’s Jim Abbott said the survey by Nationwide was an added boost to a recovering economy.
“We have been seeing more activity in our conveyancing department and this is good news as it demonstrates that after some difficult years the housing market in the East Midlands is moving forward again,” he said.
The latest annual increase means prices are continuing to rise at their strongest pace in almost four years, with February marking the 14th month of increases in a row.
Despite the blossoming housing market, property values are still sitting at around 3% below their peak recorded in 2007, according to the survey.
In the East Midlands the average house price is now £146,964.
Mr Abbott, whose firm has the highest accolade by the Law Society for their expertise in property matters, the Conveyancing Quality Scheme, said using well-respected local firms was still the obvious conveyancing choice.
“In a market which is becoming increasingly buoyant there is pressure to move as quickly and smoothly as possible and that’s why face to face meetings with experts who know your particular issues is by far the most sensible choice,” he said.
He also warned home buyers to make sure they source their legal representation at the start of the property search.
““A home purchase, or indeed any property purchase, is a very stressful matter and you need to be well armed from the outset so speak to a solicitor right from the start,” he added.
“The seriousness of a property transaction is sometimes overlooked by those in the centre of it and we try to give our clients realistic expectations as to timescales and communicate frequently to ensure they are not kept in the dark.”
As part of their service QualitySolictors Mander Cruickshank gives all would-be clients a free 30 minute consultation to outline the process.
More details and a free consultation with QualitySolicitors Mander Cruickshank can be obtained by calling 01530 510 666.