“The resilience of the residential property sector is positioning us robustly for the significant economic and political changes ahead”

Print This Post

18 October 2016


Search Acumen200Andy Sommerville, director of Search Acumen, comments on ONS/Land Registry UK House Price Index, August 2016.

“Those nervously watching the post-brexit property market can take another sigh of relief as August’s house price index reveals another month of relative stability.  House prices grew by 8.4% in the twelve months prior, rising 1.3% from July as supply and demand were broadly unchanged. As the uncertain future casts a shadow over the wider landscape, the resilience of the residential property sector is positioning us robustly for the significant economic and political changes ahead.”

“While we can be grateful for stability during these precarious times, which is likely to keep conveyancers busy, we must not overlook the ongoing housing crisis which continues to eat away at the hopes of first time buyers. Further house price growth will increase the deficit of affordable homes in the UK, worsened still by the 0.8% monthly fall in new-build construction output in July[1].”

“As the autumn statement approaches, we call on Phillip Hammond to address these deep rooted issues in our market to close the gap between supply and demand, and drag home ownership back into reach for the normal working people Theresa May has set out to support.”

[1] http://www.ons.gov.uk/businessindustryandtrade/constructionindustry/bulletins/outputintheconstructionindustry/july2016andnewordersquarter2aprtojune2016



Associate News is provided by Legal Futures Associates.
Find out about becoming an Associate



Leave a comment

* Denotes required field

All comments will be moderated before posting. Please see our Terms and Conditions

Legal Futures Blog

How do you choose your ATE provider?

Tony Dyas Allianz

Choosing an after-the-event (ATE) insurance provider isn’t easy for solicitors. Differentiation between products and price is not always clear at first glance and you don’t really know what you’re getting until you use it years later. And, as with all intangible insurance products, you can’t take it back. Many solicitors are very loyal to their ATE providers and often focus on price, but this isn’t the only consideration. So, as a law firm, what should you be thinking about when considering who to work with?

November 23rd, 2017