21.4 C
Lancashire
Monday, July 15, 2024

Shake up of local property market predicted for 2023

Scott Reece, local property expert and owner of X-Press Legal Services Fylde Coast, Lancaster, Cumbria and South Lakeland, predicts 2023 will see a shake up of the property market across the region.

Scott predicts that a hardening market will keep the conveyancing sector busy as property owners react to the economic downturn. Property prices are expected to fall but Scott believes this won’t be as severe as some pundits have predicted:

“It’s going to be a very interesting 12 months for our sector,” commented Scott. “A fall in house prices is inevitable after the highs of the past few years however, I don’t think we will see a drop much lower than 10 per cent.  Some homeowners might take a ‘wait and see’ approach to the market, while others struggling with mortgages and rising bills may be forced to sell.

“Of course, a fall in the market isn’t bad news for everyone.  Those who can afford to will take advantage of lower prices, and the continuation of Stamp Duty cuts should also contribute to a steady quantity of transactions.

“There will be plenty of market movement to keep conveyancers busy and I would recommend professionals who have not yet embraced digitalisation within our sector, make the switch in 2023 to enable more efficient caseload management. Ensuring my clients have the most innovative digital products available to support transactions, reduce delays and prevent rising online fraud is vital to maintaining a buoyant marketplace across our region.”

X-Press Legal Services Fylde Coast, Lancaster, Cumbria and South Lakeland carries out a comprehensive range of property searches producing the reports required for all property transactions such as flood risks, planning and environmental.

For further information visit https://xpresslegal.co.uk or call 0330 159 5329.

spot_imgspot_img

Latest

Body found in search for Jay Slater missing in Tenerife

Spanish police say they have found human remains during...

EURO 2024 Parimatch Sign Up Offer: Get 50/1 on England to beat Spain Free Bet

Football fans are no doubt eagerly awaiting the upcoming...

Spain vs England Free Bets: Betano 50/1 on England to Beat Spain Euro Finals 2024

With England advancing on their journey in the UEFA...

England vs Spain Free Bets: Get 50/1 on England to Win the Euros! – Euro 2024 BetVictor Sign-Up Offer

The country waits in anticipation as England prepares for...
spot_img

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Wimbledon 2024 final: Alcaraz through after win vs Medvedev

Holder Carlos Alcaraz held off world number five Daniil...

A stunning celebration evening for the NHS Apprenticeship Awards

The Lancashire & South Cumbria NHS Health & Social Care...

Manufacturer Metamark delivers grand donation to Morecambe Bay Foodbank

Lancaster-based manufacturer Metamark, has delivered a £10,000 donation to...

Public chance to have say on proposed pump track in Nelson

A consultation is being held for people to have...

More News

UK Home Appliance Factory Contents Go Up for Auction

NCM Auctions, a specialist auctioneer and asset management firm, is auctioning the contents of a Merseyside-based factory on behalf of Glen Dimplex, a home...

Jack Mason – AI Innovation and Regulation Are Hurting Microsoft

Microsoft's recent decision to leave the OpenAI board amidst increasing regulatory scrutiny marks a significant juncture in the tech industry. This move, first reported...

Party Central Debuts in the UK: Transforming Event Planning with Cutting-Edge Marketplace

Party Central, an innovative platform designed to revolutionise the organisation of private events, weddings, parties, and corporate functions, has officially launched in the UK....