15 Surprisingly Interesting Things About Conveyancing and the Housing Market
Whoever said Conveyancing and the Housing Market were boring topics of conversation obviously never read this blog.
This week, we’re giving you a short list of some surprisingly interesting things that you may find (dare we say it?)…useful?
You never know, you may need some of these fast facts in your next pub quiz!
- Did you know that the average house price in the UK is now £196, 999? (Sourced from BBC News)
- In 2015, there was a whopping 4.5% overall rise in house prices in the UK. (Sourced from BBC News)
- Currently, terraced houses in Chipping Sodbury and Yate cost on average, £222,300 or £242 per square foot. An average semi-detached house in Chipping Sodbury and Yate is selling for £233,400 (and achieving £251 per square foot). (Sourced from Neil Artingstall’s blog)
- Be very wary: Organised online crime gangs have stolen around £10 million from hacking into email communications between conveyancing solicitors and their clients. Find out more in our recent blog.
- From 1st April 2016, anyone buying a second property will have to pay a 3% increase on stamp duty. For example, if the property is worth £250,000, then the tax bill will increase from £2,500 to £8,800.
- Rents in Yate and Chipping Sodbury are 2.84% higher than they were in 2008. (Sourced from Neil Artingstall’s blog)
- Chipping Sodbury and Yate house prices have increased by over 2113.5% between 1974 and today. (Sourced from Neil Artingstall’s blog)
- On 31st December 1759, Arthur Guinness signed a 9,000 year lease at £45 per annum for the unused brewery. (That fact is courtesy of our Irish trainee solicitor!)
- 13,000 new developments should be built in 2016, 40% of which will be aimed at first-time-buyers. Do you want to know a little more about the new developments in Chipping Sodbury and Yate? Check out our blog.
- Thanks to great shopping, scenery and social scene, Bristol has been awarded the best place to live in Britain, according to The Sunday Times.
- The average age to buy a first home is now 35 years old. According to a survey carried out by Post Office Mortgages, the average age was 30 five years ago, and 28 ten years ago.
- On average, with about 2-3 people in the chain, it can take between 8-12 weeks to move home. Find out more in our blog.
- 63% of people are homeowners, a major decline from 71% in 2003. (Sourced from CityAM website)
- Rentcharge is an oddity that only exists in Bristol, Bath, Manchester and Sunderland. It only relates to freehold properties. Rentcharge dates back to the Victorian and Edwardian times when landowners would sell their land to developers for a small amount in return for a perpetual income from the land. Find out more in our blog.
- And finally… Do you know where the phrase ‘Ship, Shape and Bristol Fashion’ originated from? It was way back when the city docks hadn’t been built yet, and ships had to be moored upstream near the city where there was a low tide and they would lean to one side. This meant that cargo had to be stowed away and tied down extra carefully, as it had to in Bristol; otherwise it would crash to the floor and get damaged or perish. (Sourced from Bristol Post)
As a Bristolian Conveyancing Solicitors, we took this pirate ship theme and used it to explain the process of conveyancing in our Slideshare: Shiver Me Timbers! Whatever Will My Conveyancer Do Next? You can watch it below:
Are you thinking about moving home and want the process to be as stress-free as possible? You should download your free First-Bites E-Book for top tips and advice!
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