‘Confidence returning’ to UK property market

Increase: Lisa Gibbs of Irwin Mitchell
Increase: Lisa Gibbs of Irwin Mitchell
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Confidence is returning to the property market, according to city law firm Irwin Mitchell whose conveyancing team works on house sales across the UK.

The company says it saw a 30 per cent increase in completions in June, compared with June 2011, while Land Registry figures show house prices are rising.

Lisa Gibbs, head of the firm’s national conveyancing team, said: “While much of the commentary related to property remains cautious and often downbeat, we are increasingly seeing suggestions that go against the grain and show there is a cause for optimism in relation to the market.

“We have not only seen increases in the number of transactions, but also had the general feeling from estate agents we work with that valuations and instructions have been on the rise.

“The market has been through a difficult few years so this level of caution is somewhat understandable. However, positive new figures like those seen in recent months are a step in the right direction and may be the push needed to encourage more people to enter the market.”