Property sales in the UK were up by 19% last month compared to the same time in 2013. HM Revenue and Customs told us that there were 94,080 property transactions in March alone.
The figures show a consistent rise in sales in 2014 and HMRC have reported that January to March of 2014 have been the busiest months for property sales since 2008!
In conjunction with the number of sales, house prices also continue to rise at a steady rate. Average house prices in the UK reached £254,000 in January this year and increased by 0.6% this month. In fact nearly half the post codes outside of London have reported rising house prices.
With a rise in both sales and price, the recruitment of property solicitors and conveyancors across the UK has seen a subsequent increase in demand. We’ve certainly seen the difference here at LR Legal Recruitment.
The Bank of England’s Monetary Policy Committee have increased their economic growth projections for the first quarter to 1%. Which means things are looking up for the housing market and the economy in general.
So there’s a good chance that the boom in property law recruitment will continue and the bubble won’t burst for some time – we’re certainly hoping it doesn’t.
Unfortunately we can’t predict the future but what we do know is that it really is a great time to take advantage of the wealth of opportunities available.
Many of the current vacancies available are offering increased salaries to compete with the demand in the sector. Inevitably more legal professionals will move over to the property specialism and salaries will become less competitive – so get in there quick!
We are currently recruiting for a number of property law and conveyancing positions including both commercial and residential. Check out our vacancies page to see our great opportunities across London and the South East.
If you find a position that’s right for you – apply online, contact us via email or call us on 0208 464 2503!
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