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Andy Sommerville, Director at Search Acumen, comments on the latest ONS House Price Index, September 2017

Our country needs to embark on the greatest housing boom the UK has witnessed in a century. For decades, UK governments have neglected the critical issue of our nation’s housing shortfall and as a result we estimate by 2022 the UK will be short of a million homes

“The good news in the most recent Help-to-Buy loan scheme figures is just papering over the cracks in our housing market. A record number of borrowers in Q2 2017 took advantage of the programme and that’s an admirable thing. But, borrowers had to take on more debt than ever to make their homeownership dreams a reality. In London in particular, many first-time buyers are resorting to taking on equity loans of up to 40%.”

Andy Sommerville, Director at Search Acumen, comments on the latest RICS Residential Market Survey

More property transactions and fewer people doing the work have increased conveyancers’ caseloads, but amid mounting pressure their productivity has grown by 70% since 2012, according to a survey. Among other things, it found that in 2016 conveyancers were spending a day and a half less per case and doing one case a week more than four years earlier.