Local Property Solicitors Discuss the Property Market
Posted on 27th November 2020
Over the course of 2020, there has been a fair amount of uncertainty in the Property Market, however, our local Property Solicitors were pleased to read a recent report by Savills UK Estate Agents, which outlined that, in September alone, property prices had increased by 0.9%, taking the annual growth of prices to 5%, the strongest rise since September 2016. In addition, properties which had sold subject to contract saw a growth of 175% compared to last year’s level, although, this was down slightly from the start of September, which stood at 183% of last year’s level.
So, you may be wondering what this means for you, either as a property buyer or the seller of a property?
Well, for sellers, this means that the market is busier and therefore selling your property should be easier than it would have been this time last year. Obviously, when selling a house, there are always many factors to consider, such as the condition of the property, the location and whether the market value is reasonable. However, in general, sellers should find that the market is busier. In addition, sellers may find that the value of their property has increased over the year.
What are current timescales for Property purchases and sales?
Currently, many firms are advising that completion of a property sale or purchase could take in the region of 12 to 14 weeks, depending on the length of the chain and the complexity of the property purchase.
Our team of local property conveyancing solicitors like to be upfront with our clients about timescales, so always give as accurate estimate as we can, of how long the process could take when our clients instruct us. However, if you have a specific timescale in mind, have a chat with our expert team and they will make a note of your requirements, and do everything they can to help you meet these.
What are the costs of selling or buying a house?
Like most people, we are sure that you would like to know what the legal fees will be for your property sale or purchase before you decide which local property solicitor you are going to use.
At MG Legal, our fixed fee property sale and purchase services start from just £250 plus VAT.
To find out what your property sale or purchase would cost, you can submit a quote request through our online contact form, or give us a call at your local office and have a chat to our team of local property solicitors, who can email a copy of the quote through to you, too, for your records.
What is the process of selling or buying property?
How can MG Legal help?
At MG Legal, your local solicitors, our team of property conveyancing solicitors are experts in dealing with both residential and commercial property sales and purchases, so we can help complete your transaction efficiently and all for an excellent fixed fee.
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