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Growth predicted in property market, says Searches UK

Professionals in the property industry are confident that more business will be generated in the coming year, according to research by Searches UK.

The searches company surveyed solicitors, conveyancers, estate agents and other industry professionals and found that 56 per cent predicted growth in the industry, with a view to there being more property transactions than the previous year. Just over 30 per cent thought the market would stay the same.

One of the main reasons for predicting growth in the number of housing transactions is the change to stamp duty introduced in December 2014, which mean that more property buyers will pay less of the housing tax than previously.

Managing director at Searches UK, Andrew Stenning, said: “We’re pleased with the results of our survey and are even more delighted that industry professionals have an optimistic view of the year ahead.

“To keep our clients informed about trends in the market it is important for us here at Searches UK to gain insight into the industry to help solicitors and conveyancers in the property market obtain more information about what is happening in their field.”

Source: www.mortgagefinancegazette.com

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