The effects of the pandemic have certainly changed our lives in many ways. We have seen the economy suffer, jobs lost and businesses close. However, despite all of this what we surprisingly continue to see is somewhat of a boom in the property market.
The stamp duty holiday being a great initiative from the government is a key factor in this current surge in the property market. Coupled with people reassessing their properties and locations due to the effects of the lockdown and the increase in home working. As city life during lockdown turned out to be far from ideal!
Records indicate over the past couple of months the majority of vendors have found buyers within a week, more than at any other point over the past decade. In addition, Rightmove have reported that more than 84,700 mortgage approvals were undertaken in August alone, making it the highest since October 2007.
So despite the challenges of the pandemic the property market currently seems to be thriving. This in turn has resulted in extreme pressure for those operating in the property sector and particularly solicitors who have been required to deal with unprecedented levels of work and at times with fewer numbers of staff.
Here at Ramsdens we have been working hard to ensure our colleagues can continue to work to the best of their abilities during these challenging times. We have made internal changes in our offices and enabled colleagues to work from home where required to ensure we can continue to deliver the very best for our clients.
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Speak to a knowledgeable and experienced house conveyancing solicitor today by contacting Ramsdens Solicitors. Either call us on 01484 821 500 or complete our online enquiry form and we will contact you at a time that is suitable for you.
BY LINDSEY FRITH
December 23, 2020
Lindsey is a Solicitor and Partner and Heads the Residential Conveyancing department.