A round up of industry research – from communication with conveyancers to empty homes in England
New industry research into the UK property market has found that the number of empty homes in the UK has gone up for the first time in a decade. The city of York posted the highest numbers, with an increase of 322% over the course of the year.
One in ten properties vacant in the UK are in London, with nearly £10 billion worth of housing stock sitting empty in the city. These figures come out at a time when there is a housing shortage across the country, which is being felt by both the sales and lettings markets.
Across the UK, there is an estimated £50 billion worth of property sitting empty. Other offending areas were Cambridge and the City of London, both of which posted major increases in the number of vacant properties. Although Norwich and Norfolk didn’t stand out in the findings, there are of course empty properties in the city and region too.
This sees a reversal of a trend, which had seen empty properties falling since 2008. There are now currently more than 200,000 homes standing empty for a period of more than six months.
In other news, another study has found that a large number of home buyers in the UK find it hard to choose a conveyancer, even though they are recognized as being very useful in the house purchase process. But more than half of people surveyed said they didn’t really understand what the conveyancer did and how they added value. They think there should be better and clearer communication. This should be done by using online communication according to more than a quarter of those asked. More than third would like them to use more clear and easy to understand language, without too much jargon.
Around half of those asked said they would like the conveyancer to take a more consultative role and provide assistance when it’s needed.
Conveyancing consultancy can really add value to a transaction, so it’s very important that the lines of communication are open and used.
To find out more about the role of a conveyancer or to speak to one of our property experts about any kind of transaction, get in touch with a member of our team. We’re always more than happy to talk about the property market in Norwich and Norfolk. Give us a ring on Norwich 01603 567804 or send us a message.
For more free tips on Property Investing SIGN UP HERE.