Residential conveyancing news: Sellers ‘returning to the market’

People looking to buy a new property and employ a conveyancing solicitor could find there is a greater range of choice in the market as more sellers put their homes up for sale.

According to the Royal Institution of Chartered Surveyors’ (RICS’) April survey, 18 per cent more of its respondents reported a rise in new instructions than saw a fall, up from four per cent in March.

The group noted that, while spring is traditionally a busy time of year for the housing market, a stabilisation in prices is tempting many people to sell up, while good weather saw an increase in the number of buyers making viewings.

However, RICS housing spokesman Michael Newey said poor levels of lending are still hampering the market, so he urged mortgage providers to loosen the purse strings in order to stimulate more activity.

Recently, it was stated by Santander that a lack of available deals means that first-time buyers are having to save for around five years in order to be able to put down a deposit for a home.