Residential conveyancing news: Property prices expected to fall this year

Posted 25/04/2011

Property prices across the UK are set to fall this year, those considering seeking a residential conveyancing solicitor may be interested to hear.

According to figures from property website findaproperty.com published in the Daily Telegraph, confidence within the sector is falling and prices will tumble in 2011.

The results come from the site’s March survey, which saw 1,000 people polled on their property market opinions. 42 per cent said they believed house prices will fall, with only 11 per cent saying they think there is a chance prices could rise.

Property analyst at the website Samantha Baden said that with all the talk of spending cuts and ongoing job losses, “it’s not surprising that this gloominess has percolated through to people’s everyday lives”.

However, those keen to take on board the findings of a new Halifax survey could soon be using residential conveyancing services to buy their first home.

The survey found that buying is almost 14 per cent more affordable than renting a property, with mortgage holders enjoying an average of £100 less to pay each month than renters.