Regional solicitors Tollers has watched domestic property conveyancing instructions rise for the first three months of the year. And it is experiencing a strong number of enquiries for April.
Tollers received 27% more conveyancing transactions in March than it did in February whose figures in turn were 10.3% higher than for January.
Maureen Addison, head of conveyancing at Tollers, said: “This trend could be good news for the Milton Keynes property market.
“Of course these figures have to be taken in context. Compared to the number of domestic property instructions we were receiving 18 months ago, the market is still highly suppressed. While there is no concrete evidence to suggest the market has bottomed and the good times are on the way back, this is certainly positive news.”
One recent legal development which could slow the market down again is the removal of temporary arrangements for Home Information Packs.
Before April 6, home owners could put their house on the market by just ordering a HIP but without having to wait for it to be in place. Now every new home put up for sale must have a HIP in place, slowing down the process of getting a property on the market.
