The Business Exchange Swindon & Wiltshire Edition 38: Aug/Sept 2018 | Page 13

LEGAL 10 Minutes with Bower & Bailey’s Eugene Murphy How is the Swindon property market looking at the moment? 01793 610 466 Eugene is a partner at Swindon’s Bower & Bailey Solicitors, specialising in property law. We met over coffee to discuss the current trends in the Swindon residential property market. Swindon is currently being highlighted as a property hotspot. Back in January figures from the Halifax indicated that house prices in Swindon were among the fastest rising in the UK with a 7.8% increase in the average home cost as opposed to the UK average increase of 2.7 per cent at the time. Whilst growth across the UK is slowing down and property prices are purported to be flattening out Swindon seems to be bucking the trend. Current economic thought seems to be that house prices will continue to increase albeit at a slower pace than in previous years. There is no sign of abatement in Swindon. Many purchasers are taking the view that it’s an ideal time to purchase a property in Swindon as homes are likely to rise more than average especially when there is planned investment in the transport infrastructure with high speed rail planned to London and Bristol. What is the biggest challenge in the current climate? The biggest challenges are economic. However, Swindon has many positive attributes which help it buck the trend. Diverse & Strong Labour Market: There is a healthy and strong labour market which is robust. Affordability: The price of property in Swindon is very affordable compared to Oxford, Reading and Bristol. This coupled with the continuing low mortgage rates bode well. Brexit will undoubtedly impact on the behaviour of investors in the housing market. As a solicitor I act in diverse property matters and it’s always a challenge to ensure that the client’s best interests are met. Is there a rise in interest from developers in Swindon? There are many large scale new build developments ongoing around Swindon and its environs. It is an extremely exciting time to be in the property sector. There is a great appetite for new build property with a high level of buyer demand. Back in April Emoov named Swindon as the UK’s most in demand place to live. It’s great to see this diverse market investment in Swindon on a residential level. I am fortunate to have a wealth of experience and expertise having worked in the Swindon Property Market since 1999. At Bower & Bailey Solicitors we have experts dealing in new build work and the Help to Buy scheme. I feel lucky we have such talent in our different property teams. What do you love most about your job? Swindon continues to thrive and develop through further expansion and I am proud to play a positive role in that development. I have had the pleasure of working in Swindon for nearly 20 years. During this time I have enjoyed working with influencers, decision makers and thought leaders within the property and legal sector. I’ve developed and grown strong relationships with various stakeholders in the property market. Bower & Bailey are an increasingly expanding firm with a sizeable property department who have excellent relationships with local estate agents and property developers. “Swindon is a property hotspot” Eugene Murphy, Partner, Bower & Bailey Solicitors can be contacted via email : [email protected] Twitter @BowerBailey Local expert legal advice for you, your business and your family • Accident and Injury Compensation • Commercial Property • Divorce and Children Matters • Employment issues • Company and Commercial • House Sales, Purchases, Mortgages • Consumer and Civil Disputes • Wills and Estates Bower&Bailey_TBE_Swindon_59x210mm_Ad_v3.indd 1 Cambridge House, 4 College Court, Regent Circus, Swindon, Wiltshire SN1 1PJ T: 01793 610466 F: 01793 511505 www.bowerandbailey.co.uk 06/11/2015 THE BUSINESS EXCHANGE 2018 08:23 13