Property Transactions Trends – Geoff Offen, MD at Future Climate Info
The number of property transactions in the UK sees a slump in January, but with first time buyer numbers at a decade high*, Geoff Offen, Managing Director at Future Climate Info, reminds buyers and conveyancers to keep environmental risks in mind when buying property:
“The number of properties bought in the UK has seen a slump in January, but as a decade high of first time buyers is reported elsewhere, it is important for potential homebuyers and their conveyancers to understand, anticipate and mitigate the risks that can be involved in this process.
“FCI data* shows that around one in seven property transactions had a potential flood risk attached to them in the last two years, a figure that rises in the UK’s urban areas and cities such as London, Manchester and Cardiff – homes being transacted in those cities had more than a one in five chance of being at risk from flood damage.
“It is therefore crucial to know of solutions available to homebuyers and property investors who could easily be affected by flood risk. Everyone considering a property purchase should be able to do so with the peace of mind that there are clear steps they can take to ensure that environmental risks do not hinder their buying ambitions.”
*Halifax First Time Buyer Review
*Source: Future Climate Info Urban Homebuyer Flood Risk Report
Kindly shared by Future Climate Info