The triple increase in property prices, number of transactions and the amount of properties on the market has been welcomed by residential conveyancing solicitors in London.Share This:-
The fall in the number of construction contracts has been evidenced by a 25% insolvency increase in building firms since the pandemic.
Escalating inflation, delays in significant infrastructure projects, a drop in the construction of new homes and the cost increments of materials are the chief culprits here.Share This:-
Flat sales in London are up nearly a quarter compared to pre-pandemic conditions and house sales are showing a smaller yet still significant increase. In prime central London renters are being forced to pay more as there are fewer deals on offer, with particular demand in up to two bed properties. Suburban rents have increased even more so.
New leases and renewals are being reported by some of the commercial property mega corporations with rents holding firm even though foot fall remains slightly subdued due to hybrid working. Recent builds especially are of interest.Share This:-
People returning to offices have started an avalanche of conveyancing transactions as they tire of the commute and its cost into London from the home counties and beyond where they have sought refuge during the pandemic and are buying properties in the metropolis once again. A significant rise in prices has been noticed recently.Share This:-