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London Property Market Slows Down But Signs Are Still Positive

24 Apr 2017

Posted in Conveyancing

Being property lawyers in London we watch with great interest all developments in the property market and a new report stating that bricks and mortar are at their slowest rate since 2013 really is par for the course.

House seller Rightmove’s statistics show prices sought by sellers had only increased by two per cent in the month to February 11, showing that the market seems to still be in a very stable place.

After all, we still have a growing property market and this is welcome in this time of uncertainty following the fallout after the Brexit vote last summer.

Interestingly, whilst these statistics relate to the UK market as a whole, we at Pindoria solicitors being conveyancing solicitors in London read recently another statistic which is much more relevant to us. According to analytics company, Propcision London’s property market is very price sensitive with 28 per cent of properties not achieving the values they had hoped.

News like this may not be good for sellers, but they are for buyers and it is also promising that the property market is not becoming over-inflated.

Helping many with their house purchasing by being conveyancing lawyer in the capital, we have been aware for some time of a price-sensitive market.

The fact is though that we are very fortunate for those of us able to get on the London property ladder as it still remains one of the greatest places in the world for property investment.

It also seems wise to take this opportunity to remind the public that they should ensure that they should use qualified legal conveyancing solicitors when purchasing property.

It alarms all good law firms like us at Pindoria Solicitors that some members of the public are advised to seek out the cheapest conveyancing possible.  Such moves can be disastrous with people’s house moving dreams in tatters and vital searches not done properly.

The cost price of quality conveyancing is a relatively small amount in the overall figure of a property purchase, and it helps diminish the stress associated with what is nearly always the most expensive acquisition a person ever makes.

Also, it’s worth noting that good law firms are regulated by the Solicitors Regulation Authority, which demands high standards are met, so as to ensure you have the safeguards in place to protect you should any issues arise.

We at Pindoria Solicitors are more than happy to help give quality conveyancing help and support to those looking to move during 2017.

If you wish to know more, please call us today on 0208 951 6959.