It has been reported by Nationwide that in March 2022, house prices grew at the fastest annual pace for more than 17 years, notwithstanding the pressures on living standards with spiralling living costs.

Official figures show that house prices in the South West of England rose fastest than anywhere else in the country.

The past year demonstrated the strength of the UK property market with house sales and property prices hitting double digit growth in some areas of the country, even with the effects of Covid continuing. What can we expect in 2022 and will there be more stability?

Chancellor Rishi Sunak delivered the 2021 Budget, which extended several Coronavirus support schemes and outlined plans for the country’s post-pandemic recovery.

With less than a week to go until the next Budget, on 3rd March 2021, speculation is rife as to what Chancellor Rishi Sunak may announce. With the pandemic affecting the country for more than a year, there are likely to be numerous Covid-related support measures announced.

Coupled with operations restrictions, the stamp duty holiday has slowed almost every part of the conveyancing process. Surveyors, mortgage lenders, search agencies and conveyancing lawyers are struggling to meet demand which means that the average property transaction completion time has increased from 12 weeks to 16 weeks. As a result, current new buyers are unlikely to meet the March 31st deadline to take advantage of the stamp duty holiday.

Separation is never easy, but if you and your former partner own property together, the situation can be even more complicated.

You may not be aware that you do not have to pay Capital Gains Tax when selling your home, but the detail of the rules are a little more complex than this though.

Residential property contracts will be governed by the Law Society’s standard conditions of sale. These conditions do not include any provisions to expressly cover the event of a pandemic or epidemic, or otherwise the death or serious illness of a party.

While every transaction is different, it will generally take 2-3 months from the date a buyer is found to the buyer getting the keys, i.e. completion. Taking into account that lead-in time, there is logic in sellers still trying to get their house sales tied up now, and we continue to be instructed on new deals.

Moving house can be stressful at the best of times, but the current unsettled situation surrounding Coronavirus brings with it a set of new challenges and uncertainty.

A concern for a property owner with vacant land and buildings is the possibility of third parties taking up residency on that land or within a building.