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Housing market set to remain solid for foreseeable future

25 May 2015

Posted in Conveyancing

In the media there has been much speculation as to what way the markets would react depending on the recent General Election result.

With our involvement in both residential conveyancing and commercial property we at Pindoria Solicitors too were very interested in developments at the polling stations. This crystal ball gazing has thankfully come to an end and the city seems glad to see David Cameron back in Downing Street, which has led to predictions of a stable property market for the foreseeable future.

Wherever you look in the media whether it is large estate agents, the Royal Institute of Chartered Surveyors and large lenders, it seems that trust and confidence has returned to bricks and mortar. The confidence in property should benefit the whole economy and most of the experts have predicted slow rises, which should mean many moves during the year to be more based on lifestyle needs rather than anything else.

However, here in London at the top end of the market, the media speculates foreign investors are most likely to pounce. Leading estate agent Savills has predicted a 19.3 per cent growth in mainstream house prices over the next five years and 10 per cent price growth in London. Just a few years ago when property was rocketing it created an almost hysterical environment and we can only hope the effects of the credit crunch has meant people have learnt lessons.

What will remain so for those involved in the property market is the sure knowledge that it is a highly stressful matter and those involved need to make sure they don’t cut corners. Buying property is the most expensive acquisition most people will ever make, so don’t skimp on poor conveyancing, which is dealt with in a call centre environment on the end of a phone by an invisible process production factory.

Using high standard conveyancing solicitors in the scheme of a property purchase is good value and can give you assurances that everything has been done correctly. It prevents some nasty shocks and it is well worth ensuring you have that peace of mind.

Please call the conveyancing lawyers at Pindoria Solicitors for that peace of mind.