As the property market has continued to be busy with house prices rising, research is suggesting that the conveyancing costs for the housing market are likely to rise.
The team at Quinn and Co have been super busy helping customers not only sell or find the property they want to purchase, but helping their customers navigate through the process. Frequently this is dealing with customers, currently living in London looking to re-locate to the Bournemouth area due to the increase in more home working during the pandemic. This has been aided by the government stamp duty incentive to keep the housing market moving.
Reported figures show the amount of conveyancing quotes being requested increased up to 60% in April. This has had the unfortunate side effect of already increasing conveyancing costs being forecast for further increases. Comparison sites are showing prices are set to rise again by up to 3.7 percent by the end of July.
Even with these rising conveyancing costs and when the government stamp duty incentives have ended, Quinn and Co are not expecting to see the number of sales and purchases decline dramatically within the Bournemouth area, this is due to the substantial savings that many potential customers have been able to accrue during lockdown. In addition, flexible working arrangements are becoming permanent within many industries, with the Bournemouth area becoming a popular destination to relocate to when customers want to review their location options.