House price increases continue to confound economic commentators

Here at Curwens we can report that sale and purchase instructions locally have been increasing month on month. Furthermore the proportions of those transactions progressing to successful completion are significantly higher than for the comparable period last year.

The Halifax reported a second consecutive monthly rise in British house prices in August. Nationwide suggests a 1.6% increase for August and their 3 month on 3 month rate of change in house prices increased from 2.7% in July to 3.3% in August. The Land Registry also reports recorded increases in April, May and July.

A number of our developer clients are also informing us that after 18 months of hard market conditions they have insufficient stock to satisfy demand. More affordable housing and historically low interest rates play a significant part in these developments but if the trend continues there may yet be reasons to be cheerful.

Stuart Hughes,
Partner – Curwens Solicitors

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