Rob Gurney, managing director of Ochresoft – the legal workflow software specialist for conveyancing and private client lawyers – has provided his thoughts on the latest House Price Index, which reported a fall of 0.6% on January’s average prices during February to £230,332:
“In our industry, the question on everyone’s lips is what will happen to property values and transaction volumes, once the current lockdown that we live in is eased. The House Price Index for February showed a slight decrease on values, but it’s now anyone’s guess as to what is going to happen over the coming months.
“While we are still seeing movement and activity from lawyers behind the scenes using our case management system to progress transactions, conveyancers will be under pressure to conclude those transactions that reached the point of exchange – but were unable to complete ahead of the pandemic – from all sides of the chain. Having everything in place ahead of time will therefore give conveyancers a head start.
“Ultimately, the industry will be fully poised and ready to move once restrictions are removed, however the true landscape that will face us remains to be seen.”
For more information regarding Ochreosft’s Intelliworks, telephone 03300 366700.