Comment: Property transactions testament to hard work in the conveyancing sector

Adam Forshaw, MD at O’Neill Patient Solicitors, comments on the HMRC property transactions statistics, which show testament to hard work in the conveyancing sector.

“The figures out today provide the hard stats to confirm what all of us working through the last six months were well aware of – it has been a period of intense pressure on the conveyancing sector.

“The year-on-year increase of 216%, charting a course from the depths of lockdown in June 2020 to the peak of the stamp duty holiday rush at the end of June 2021, could not be a clearer illustration of the journey we’ve been on.

“While we expected the figures for June to outstrip all previous records (due to the significant impact of homebuyers forestalling activity), what we have seen since the cut off is that demand is still high.

“As yet we’ve not seen a significant drop off and in fact the re-mortgage market is showing real signs of strength.

“It is testament to the sheer hard work, professionalism and collaboration by all involved in the property industry over the last few months, that we have not seen the nightmare of transactions falling through or being renegotiated, with all the implications that has for homebuyers in their property chains.”

Kindly shared by O’Neill Patient Solicitors

Main photo courtesy of Pixabay