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21 December 2023

South Wales’s Love Affair with Property Predicted to Continue in 2024

Steph Hector

GUEST COLUMN:

Steph Hector
Owner
X-Press Legal Services South Wales

X-Press Legal Services South Wales

Local property expert and owner of X-Press Legal Services South Wales, predicts 2024 will see South Wales continue to share their love of property ownership alongside the rest of the UK. 

Despite no huge wins for the property sector in the Autumn Statement, Steph Hector believes local house hunters will remain undeterred by challenging market conditions as we enter the New Year.

“It’s going to be another interesting year for the property sector, particularly with a looming general election,” commented Steph Hector. “But I foresee little change in the busy conveyancing market locally, as our love affair with property ownership persists and prices continue to fall. The most evident shift locally will be the continued sale of buy-to-let properties by landlords due to looming tenancy reforms, high mortgage rates and increased tax bills.   The availability of rental properties will continue to reduce next year however, those properties will be reabsorbed into the market through either sales or repossessions creating transactions that will keep local conveyancers busy.”

X-Press Legal Services works alongside solicitors and conveyancers across the region to swiftly provide property searches and reports.  For local homeowners the message from Steph Hector is to be realistic about property values in 2024 and protect themselves from risky purchases:

“One thing I would urge all house hunters to do is utilise little known tools such as Home Risk Reports which provide instant data on a property’s risk level for common issues such as flooding, contamination and ground stability. This enables buyers to make a swift decision on whether to commit to a purchase before starting the formal buying process.

“I would also always recommend instructing a local solicitor or conveyancer who will have in-depth knowledge of the area in which you are buying and will work hard to keep your transaction moving.”

X-Press Legal Services has earned its reputation as a trusted independent property search provider, offering valuable insights and meticulous searches to facilitate informed property decisions.  With locally owned offices encompassing every council area in England & Wales, they specialise in providing property search and reports to conveyancers. For further information contact Steph Hector on stephh.1353@xpresslegal.uk or at 0330 159 5353.

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