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Tremors in the property market
After the unrelenting pace of the property market of the last few months, it has been widely reported in the last few hours that the average price for homes coming onto the market has suffered the largest dip recorded in twenty years. It should however be noted that Rightmove only began to record trends in the market in 2002.
This news should not be wholly treated as an indication of a slowdown or pause in what has been unbridled success of late for all involved in the property market. Instead, it is best looked at in tandem with the moves made to turbo charge the housing market such as continually falling interest rates, lower mortgage rates, and an overall demand for homes consistently remaining at a high level. The reported price change offers a greater chance at levelling the playing field in the ongoing seller & buyer dynamic.
This is positive news for all involved in the property profession and we welcome all who are seeking their first or next involvement in the property market.
Our property team will be keeping a dedicated oversight on the changes to the market and duly providing their regular updates to our readership.
If you have any questions about the conveyancing process or wish to get a quote for the costs involved, why not call our team at mosshaselhurst Solicitors on 01606 74301.