Grab your six pack of lager, the Six Nations starts on Saturday 6th February.
England, Wales, Ireland, Scotland, France and Italy will all battle it out on the rugby pitch in the hope of winning a Grand Slam and not the wooden spoon (England).
Although the England rugby team have a lot to prove this year, there is a place where England are exceeding and that’s the property market.
England’s property prices have climbed by an average of 8.3% over the last 12 months compared to Northern Ireland’s growth which was 4.6%, Wales who climbed 1.3% and Scotland was just 0.4%.
Brian Murphy, Head of Lending at the Mortgage Advice Bureau explained that regional house prices reflect economic trends in the locality. Wider factors like employment rates, income levels and consumer confidence all contribute to housing market activity and house prices.
“Recently, both Wales and Scotland have been affected by problems in the steel and oil industry respectively,” he confirmed. Limited wage growth – Wales has the lowest annual income of any UK region – and a lack of confidence in employment prospects are unlikely to encourage housing transactions.”1
With the declining value of the euro second home buyers have been looking at Europe to invest in, and who can resist the warmer weather, rustic charms and fine wines in Italy and France.
One thing that is for certain is whatever happens in the property market people need homes to live in and when your clients buy a property in England or Wales CDS are here to make the conveyancing process easier for you.
The only uncertain thing is who will win the Six Nations!
For more information on what we can do for you contact us.
References
This article was submitted to be published by Conveyancing Data Services as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
