Last month, pre-Budget, I pondered on what impact the October 30th event would have on…
By the time you read this, we won’t be too far away from bidding farewell to the lazy days of summer, with holidays over, schools returning, and the entire sector easing back into a more familiar rhythm.
That being the case, it’s a good time to reflect on the state of our industry and look forward to what lies ahead. For many of us, the return from holiday means a renewed focus on our clients’ needs, adapting to the latest market conditions which we must admit have seen something of a change in recent weeks, and hopefully seizing opportunities for growth and development.
The summer break can traditionally bring something of a lull in activity, both for clients and conveyancers. Yet, as the sun is close to setting on the season, there does appear to be something of a shift in market energy.
Even before clients were back from their holidays, anecdotally I’ve been hearing that agents have been sounded out from those ready to dive into the home buying process not just the nearest swimming pool. Why might that be?
Well in recent weeks of course there has been significant movement in the financial landscape that could have a positive impact on our sector.
The recent cut to Bank Base Rate appears to have generated a small wave of optimism among potential buyers. This reduction has already lowered borrowing costs, which in turn is increasing the number of people looking at a housing purchase/sale, or both.
Rightmove’s recent report highlights the adjustment in rates is already showing promising signs, with more buyers coming to market since the MPC announcement, delivering a boost in property inquiries.
For those working within the conveyancing sector, this uptick in activity presents a clear positive to grasp, but as always delivers both challenges and opportunities.
As more buyers begin to explore their options, it’s essential CA member firms are prepared to deliver an efficient, responsive service. This period of increased interest in property transactions is a chance to showcase the value of your services and reinforce your commitment to a smooth and transparent process for all parties involved.
As always, the CA is here to support firms in delivering on this, but to also highlight some key industry issues that you may be dealing with, and to help present any solutions to new, or existing, issues.
To that end, I wanted to highlight our next Legal Members and All Members event, taking place on Thursday 12th September at the Principal York Hotel in York.
As I hope you will know these meetings are designed to provide valuable insights, foster networking, and promote best practices across the industry.
At next month’s meetings we have a packed agenda with specific sessions on areas which I know many member firms are grappling with. These include:
- Practical issues around the Building Safety Act.
- A panel session on Cyber Security.
- AML policy and how to prepare for an SRA audit.
- Myths around insurance claims.
As I’ve heard time and again from member firms, attending these events can be incredibly beneficial, not only for professional growth but also for building relationships and sharing knowledge.
The insights gained from these interactions can help you stay ahead of market trends and refine your strategies to better serve your clients. Moreover, participating in CA events underscores our collective commitment to advancing the standards of conveyancing and ensuring a high-quality service for everyone involved in property transactions.
Plus, of course, you can fulfil some of your annual training requirement by attending our events, reading our guidance notes, and taking the time to explore continuing competence in the sector.
It’s not just about the work element – we also want our meetings to be fun, so at York after the sessions we will be taking attendees on a Ghost Bus Tour, a comedy-horror experience on wheels around the city, plus hosting a networking dinner to re-connect with friends and colleagues in a more relaxed setting.
So, as we transition into the final months of the year, let’s embrace the renewed energy that comes with the end of summer, be heartened by the market positivity that appears to be growing, and sign-up to our attend our September York meetings for what promises to be an informative and enjoyable day. You can do this by visiting the following page and registering your details: https://www.conveyancingassociation.org.uk/legal-all-member-meeting-and-networking-booking/
Here’s to a productive and prosperous end of Summer/Autumn, and we look forward to seeing you all next month.
Nicky Heathcote is Non-Executive Chair at the Conveyancing Association (CA)