Cardiff
Property Hub
Previous Events
Key points raised from the Summer Series included;
Topic 1 - There is a general desire for everyone in the industry to join up the dots in the process when working with each other. Look at how the industry seems resistant to change and introducing technology that increases efficiency – what can be done to improve this?
- There is a lack of knowledge of conveyancing from agents involved in the chain. This results in incorrect information being given out, constant chasing and not managing clients expectations effectively. It makes it difficult for the conveyancers to prioritise their cases when they do not have visibility of the chain. Online agents take away the personal touch and don’t assist clients in the process. Yet many people moving house need this contact as they are unaware of the process, particularly as conveyancing requirements change regularly.
- Integration and visibility is key as it speeds up the process and reduces risk, however the information is only as good as the people using it. Updating milestones can result in calls from clients to acknowledge the update, even though no action is needed.
- Technology can be a hindrance as reliability on it increases. There have been restrictions uploading documents to LR which increases time for the solicitor as they have to split the document which is a manual process. PropTech companies need to be able to support this when needed, and not just sell their products with no industry experience or understanding.
Topic 2 - There are more properties for sale in Cardiff than this time last year - however are there enough home movers to go around and are there enough new builds being built?
- The introduction of the increased stamp duty has affected the buy to let market as landlords are selling their properties rather than re-letting. There are many properties that have been built or converted for student accommodation that remain empty.
- Many new build properties are aimed at the luxury market and properties are becoming unaffordable for local people which is changing the demographic. Financial support from parents and family has slowed down putting extra pressure on house buying at ground level. Investors are worried about selling high end properties (normally to other investors) as there is uncertainty in the market due to Brexit.
- Infrastructure is a major issue with new developments. Many more households have two cars or more and little provision is made for this, which results in residents parking on the roads and restricting movement around the area. Local transport capacity is not increased either to help ease the congestion.
These events are exclusive and by invitation only if you would like to recommend a friend to attend please contact Hannah Dukes on:
0800 840 5571 hannah.dukes@tmgroup.co.uk
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