Housing Solicitors

Online agency Rightmove says that the buy-to-let market is fuelling house prices across the UK – and limiting choice of affordable housing for first-time buyers.

The Telegraph reports that in January this year, the average house price across England and Wales rose by 2.1%.

By February, the average house price had risen by £5,729 to £279,004 – with many landlords delaying selling properties they bought as buy-to-let concerns.

Rightmove added that some estate agents are experiencing their lowest ever stocks in affordable properties suitable for first-time buyers and families. The property market traditionally slows down during the winter months, but usually gains momentum around Easter.

Rightmove said that buy-to-let landlords tend to hold on to properties longer than a private buyer would – in January this year there was a 4% drop in the number of new sellers coming to the market, compared with January 2014.

Many buy-to-let landlords are overseas investors who have accumulated a property portfolio in the UK.

Rightmove added that the amount of stock available per estate agency branch in January this year has been the lowest since the website began recording property data in 2002.

Duncan Lewis Housing Solicitors

Duncan Lewis housing solicitors offer competitively priced conveyancing services to homebuyers and sellers, including guiding first-time buyers through the conveyancing process.

Duncan Lewis has offices across the UK and is a leading firm of Legal Aid solicitors.

Duncan Lewis housing lawyers can advise homeowners on issues such as debt management and mortgage repossession, as well as advising landlords on their legal duties to tenants and disrepair issues.

For expert legal advice on housing law, call Duncan Lewis housing solicitors on 020 7923 4020.