The housing market has particularly benefited from the upturn in the economy.
And in general, talk about the housing market naturally focuses on London – being the UK’s frontrunner for property sales, the city has benefited from huge development in the past year.
However, almost all regions in the UK have seen substantial growth in property prices in more recent months, and overall these are currently at their highest for seven years.
The success of the property market has meant that there has been a corresponding increase in demand for jobs within the property and legal sectors. Conveyancing, for example, has seen a veritable surge in recruitment. Most jobs have emerged in the Southeast, but that doesn't mean there aren't opportunities elsewhere in the UK. The best way to measure this increased demand is to analyse job losses and salary increases.
During the recession, the amount of people choosing conveyancing as an occupation declined. But as the property market has slowly recovered, so has the demand for conveyancers and other careers within the property sector. Property lawyers in the Southeast have seen increases of up to £12,000 when comparing salaries from the last half of 2013 to the first half of 2014. One firm, Douglas Scott, has actually noted an average 150% annual year-on-year increase in demand for fee-earners in this sector of their business.
Conveyancing is the legal process involved when buying and selling a property. A conveyancer’s role is primarily to take care of the legal aspects when buying a house, which includes Land Registry and Stamp Duty. Solicitors are able to do your conveyancing, although it may be worth finding a licenced conveyancer as they will likely have more experience in dealing with this.
It is not only conveyancers who have seen a rise of jobs in their field. In October 2013, recruitment website, Reed reported that 165,000 positions were being advertised, which is the highest number since September 2008. October 2013 also saw all 12 regions and 33 industry sectors recording year on year growth.
The best thing to emerge out of the property market recovery is stability. This stability extends not only to the housing market, but also to employees who rely on the success of this market.
