Hennessy Bowie Solicitors News

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Recently published figures have revealed that the number of residential properties sold in Scotland in the last quarter was up 22.5% on the same period in 2012. Total volumes for July to September reached 24,274, which is apparently the highest recorded quarterly figure since 2008.

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There has been a 19% increase in the number of new homes registered in Q3 in the UK, compared to the same period last year. The recent figures, from the NHBC, show that there were 33,573 new homes registered in the period from July to September this year.

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Posted by on in Conveyancing

Last month saw an increase of nearly 10% in the supply of houses coming on to the market, according to the National Association of Estate Agents (NAEA).

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In tandem with increasing demand from potential buyers, prices continued to grow in Scotland with 32% more respondents reporting rises rather than falls, according to the September 2013 RICS Residential Market Survey.

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Posted by on in Conveyancing

Most Brits are already living in their favourite choice of property location, according to new research from Aviva.

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Posted by on in Conveyancing

A new scheme to help people get on the housing ladder has been unveiled by Deputy First Minister, Nicola Sturgeon.

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Posted by on in Conveyancing

Just 2% of consumers fear that the housing market is overheating, the Building Societies Association's (BSA) Property Tracker report has revealed, but distinct signs of life are emerging.

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Britain's flats have increased in value by an average of £394 per month over the past decade, the largest increase in cash terms of any property type, according to latest research from Halifax.

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Posted by on in Conveyancing

House prices in the last three months of 2013 (June-August) were 2.1% higher than in the preceding three months (March-May), according to the latest House Price Index from the Halifax. This was the same rate of increase that occurred in both June and July.

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Home affordability for second steppers – those home owners still living in their first home but looking to take their next step up the property ladder - has improved in the past year as a result of higher equity levels, according to the latest Bank of Scotland Homemovers Review.

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Mortgage affordability is at its most favourable since 1999 Quarter 2, with mortgage payments accounting for 27% of a new borrower's income in 2013 Quarter 2, according to new Halifax research.This is comfortably below the average of 36% recorded over the past 30 years.

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The Scottish housing market appears to have finally turned a corner as prices and demand continue to grow, according to the latest RICS Residential Market Survey.

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Lending to first-time buyers has hit its largest quarterly total since 2007 with 68,200 purchasing their first home in the second quarter of 2013, according to new figures released by the Council of Mortgage Lenders (CML).

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Posted by on in Conveyancing

The MI New Home 95% mortgage scheme has apparently helped more than 500 Scottish households achieve their home ownership aspirations, as it averages £10 million in new home sales every month.

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The number of first time buyers in the first six months of 2013 was 19% higher than in the same period last year, according to the half-year Halifax First Time Buyer Review.

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Posted by on in Conveyancing

A decade of Scottish land registration data is available for the first time, following the publication of the 10 Year Property Market Report by Registers of Scotland (RoS).

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Lending to first-time buyers, home movers and remortgagors all increased in May, with a particularly marked increase in lending to first-time buyers, according to the latest Regulated Mortgage Survey data published by the Council of Mortgage Lenders.

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Posted by on in Conveyancing

The Scottish Government has announced a £62 million funding boost for the Open Market Shared Equity Scheme (OMSE), which should help eligible buyers around Scotland on to the property ladder.

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There has been an 8% increase in the average number of house hunters registering with estate agents in April (310 house hunters per branch) compared to March figures (286 house hunters per branch), according to the latest National Association of Estate Agents' (NAEA) housing market report.

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The Law Society of Scotland is to consult with solicitors, lenders and consumer interest groups on proposals to change its rules on conflict of interest in property transactions.

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