The uncertainty in the property market continues unabated, the latest Halifax house prices survey being a fine example, whilst showing a 1% increase in house prices in June on the previous month, the second quarter showed they are 0.3% down on the first quarter, and 0.5% down on a year ago. However this is a marked improvement on the figures for May 2011 which revealed an annual drop of 4.2%.
The ending of the stamp duty holiday for first time buyers predictably led to a steep decline in such transactions in April, but May saw an increase of 28%, so signs that perhaps after a temporary hitch, first time buyers are still entering the market. One survey has numbers of first time buyers at their highest level for nearly three years.
Nearly two thirds of those first time buyers are looking to purchase with a partner, so its as important as ever for them to appoint the right conveyancing solicitor who can give good advice regarding the advantages and pitfalls of joint ownership.