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Residential property conveyancing sees improvement



The residential property conveyancing market could be set for an upturn as the number of house sellers increases.

According to the National Association of Estate Agents (NAEA), February saw a jump in the number of people putting their homes on the market.

Compared to February 2010, there was 25 per cent more property for sale last month.

At the same time, the number of house hunters registering with an agent has risen to 268 per branch, up from 252 in January and marking a seven-month high.

NAEA president Michael Jones described the news as "encouraging" and suggested it could mean 2011 will see a more stable and secure housing market.

He added, however, that is very much a mixed picture across the UK, with some agents reporting much higher growth in enquiries and stock availability than others.

Given concern about interest rate rises and mortgage availability, Mr Jones said "it is important that the government does everything it can to encourage growth at this crucial stage of the recovery process".

The news comes as the Council of Mortgage Lender calls for reforms to stamp duty to give residential property conveyancing a boost.

Posted by Georgina PriceADNFCR-1678-ID-800467117-ADNFCR
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