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Killer Bunny

Conveyancer Conversation Yesterday

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Had lunch with private client lawyer who said that in 2002 70% of her fees came from conveyancing high value properties (firm has many older wealthy clients who don't use high street volume conv. merchants).

Now its 30% as she has had to do other work to keep her revenue up, 'cos there just isn't the call for it as there was.

Of course I told her she's talking nonsense and the market is still v strong.

HTH,

TTRTR

Actually I'm not really him...

:lol:

FP

Edited by Financial Planner

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I spent last night talking to a chartered surveryor. I don't think he has any grasp on the macroeconomic impact of the current prices at all.

My impression is one of simply copying and pasting the previous valuations from the last house he looked at.

I don't mean he isn't thorough with his methodology or hasn't got fantastic technical knowledge of construction and features etc etc, its just if the house is up for 500k, tomorrow its up for 505k if thats the trend.

To think that surveryors are going through the same affordability data and trend analysis we are is just plain wrong. They haven't got time. The are not following their valuation through to completion, at best they get limited feedback from the valuation booker at the mortgage company.

Its like expecting a sweet shop owner to analyse the social class and take home pay in his locality, he doesn't do it. He only reacts by putting the price of his mars bars up and down depending on sales, and going out of business if he gets it wrong.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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