• November 28, 2023
 Property prices have started to drop following cost of living increase

Property prices have started to drop following cost of living increase

It has started to happen. Following the latest official data from the Land Registry showing a 9.8% year on year house price rise in December 2022, figures are now falling month on month.

In December, the average house price in the UK dropped by 0.4% – which is a fraction of what Scotland prices dropped by, 2.9%.

With the cost of living having such a huge affect on affordability, partnered with increased mortgage interest rates, it is predicted by industry experts that we will continue to see a drop in prices until such time as there is a balance on monthly household bills.

We should bear in mind, that even though the thought of property prices dropping can be initially daunting, prices have increased so much (especially over the last 3 years), that the drop recorded is really very little.

With an average house price in December reported to have reached £294,329 it could certainly be argued that a “levelling out” of prices is due.

In January 2023, 73% of property transactions were completed below the original asking price – the highest percentage since January 2020, another clear indication that with buyers not being able to access the funds to purchase as freely as in previous years, property prices are in for a drumming.

Another interesting fact is the amount of time it is taking to secure a buyer. The UK average in December was 52 days, and although this time of year is traditionally tougher, October was sitting at 40 days.

If we go back to March 2022 the average amount of time was only 33 days.

So, what is going to happen for the rest of the year?

Simply put, we are in a cost-of-living crisis. As long as this is the case, the housing market will be affected. Rightmove are suggesting a soft drop of 2%, where Analysts at Capital Economics are predicting a drop of a heavier 12%.

Regardless of who is right, no one has said that prices will either stabilise or increase.

Where do we go from here?

We need to look at the lenders to answer this one. Literally hundreds of deals have been withdrawn, and with the mini budget in September, rates increased incomprehensibly. Where rates were sitting below 1% back in 2021 they jumped up to above 5%.

The best deals at the time of writing this article were around 4%, with some banks offering 3.99% deals.

Unfortunately, the Bank of England may not have finished raising the base rate (it currently sits at 4%).

Therefore, no one really knows what will happen – but we expect it to continue to be tough.

One statistic to bear in mind is, more than 1500 mortgages were withdrawn in September, resulting in average rates on two-year fixed deals rising to a 14 year high.

Getting it sorted

So, if you are struggling to sell it may be that you have been given poor advice from your current estate agent. Get a revaluation of your property, maybe look to change who you are using.

If you are buying on remember, it is all relevant. If your property has dropped in price, then the one you are looking to purchase has done too.

This article was submitted to be published by the Property Ladder Group as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.

PLG – Property Support for Executors


Welcome To PLG! – Striving To Put An End To Executor Stress Who Are We……. We believe that executors deserve better. Our vision was to create a way of supporting people when they needed it the most, by ensuring we remain true to our core values. We Put People First. Our Core Values

Compassion and Respect

Are the two things you will always receive from us. Having been in your shoes, we understand intimatley the struggles and difficulties of being an executor.


Teamwork and mutual trust form the foundations of who we are. By connecting with you, understanding your needs, and finding common ground, mwe can ensure we are always working towards the same goal.


It is important to us to display honesty and integrity in everything we do. This enables us to develop lasting relationships.


We will always ensure you benefit from our involvement, and that throughout you will see first-hand our determination to provide a quality service no matter what the obstacles.


This is our guiding force, ensuring we deliver a service that reflects how we would want to be treated ourselves.


By being kind and giving back to society we are able to have a positive impact on other people's lives.

  Adding Value To What You Do HMRC Compliant Valuation Reports
  • Covers Section 160 Inheritance Tax Act 1984
  • Covers Taxation of Chargeable Gains Act 1992
  • More cost effective than a RICs
  • Straight forward and easy to read
  • Supporting evidence included to demonstrate our conclusions
  • Full ‘PLG Aftercare Guarantee’ – Should the District Valuer, or any other party question our findings, we will provide additional support, and negotiate on your behalf.
The PLG Valuation Appraisal
  • No Visit to the property required
  • Ideal for when time is of the essence
  • Extensive research undertaken
  • Reliable and accurate
We offer deferred payments on either of these valuation services, subject to the related property being placed to market within 14 days of the report being issued.   Compliant, You Are With Us PLG Property Sales By working with us, you have complete peace of mind that there is someone in your corner, ensuring you are kept compliant throughout the whole property sale process.
  • Exposure – We ensure every property you ask us to sell, is exposed to the largest possible audience, to ensure that the best price is achieved.
  • Timescale – You can be assured that all secured buyers are aware of the timescales required to fit in with the needs of the estate.
  • Communication – Is at the heart of everything we do. With this in mind you will receive full weekly reports updating you with all information on every instruction you have with us.
  Attention Is In The Detail Sales Progression Finding a buyer is only part of the process. We now need to ensure the sale runs to exchange of contracts, and indeed completion. We find that by managing expectations from the initial negotiations, we are able to deliver a stress-free transaction.
  • All parties spoken to weekly.
  • Weekly updates issued for your own files.
  • Proactive approach. – we are able to identify and deal with smaller problems that may arise, before they become a potential issue.
  • You will enjoy access to your very own Sales Progressor!
Did You Know? We also offer Sales Progression as a standalone service!   You Are Covered With Us Vacant Property Insurance Having Teamed up with one of the world’s largest and leading insurance providers, we have been able to put together the ideal vacant property insurance. Our policy means that you have complete peace of mind with minimal fuss. One call to our team, and you are covered.
  • Can be taken out for a set period or on a rolling monthly basis
  • Immediate cover available
  • Policy covers both buildings and contents
(Ts and Cs apply)   Offering Something Extra Essential Extras Why spend your valuable fee earning time organising lock changes and vacant property inspections when you can hand this all over to us? Our team ensures you receive the most competitive quotes, and that works are completed in your desired timescale.
  • Property Clearance
  • A range of property cleans
  • RICs surveys
  • Lock changes, security and boarding up
  • EPCs
  • Gardening works
  • Chattels valuations
  • Document search
  • General property maintenance
And much more!   Looking After The Pennies PLG Finance Working with key partners, we are able to assist you with all your financial requirements. So, whether you need help accessing money to pay an IHT bill, or you need a private buyer found by the beneficiaries of the estate financially qualified, one call to our team and we can make sure you get what you need, stress free and without hassle!
  • Inheritance Advance
  • IHT Loan
  • Inheritance Dispute Funding
  • Executor Loans
  • Mortgages
  • Life Insurance
  • Buildings and Contents Insurance
  Please note, all financial services are subject to approval and offered by PLG partners. PLG do not lend money, or offer insurance packages ourselves. All PLG partners have produced all relevant insurance and trading documentation to satisfy our product offerings. Full details of each partner can be obtained upon request.  

Our Vision.

We want our company to be seen as the leading service provider to the legal sector. That our team are the best in the business, that we are considered an extension of the company / solicitor referring our services. We want to be regarded as an ‘Employer of Choice’, and a ‘Premium Brand’ offering the ultimate experience delivered by people that understand how delicate matters such as Probate and Court of Protection can be for the customer.  

Our Culture.

Our team know that they are respected, listened to, and cared for. We want everyone to come into work feeling happy, motivated, and as passionate as the founders of the company to be part of the company’s journey. Additionally, they know that there is always an open door should they need anything, and that they are supported completely both inside and outside the working environment.   PLG – Giving Back To The Community We are active in our support of helping young people, and with this in mind sponsor boys and girls football teams. Our main work however, is with The Brompton fountain. The Brompton Fountain is the children’s charity at Royal Brompton Hospital. They work closely with the teams within the Paediatric Intensive Care Unit (PICU), High Dependency Unit (HDU), children’s ward (Rose), the playroom, outpatient departments and hospital school. This amazing charity provides a wide range of vital resources and services, parent / carer amenities and accommodation and funds medical equipment, improvements to the facilities and projects which are outside of the NHS remit. Many patients have life limiting conditions and will require frequent admissions and often long stays in hospital for surgery and on-going treatment for the rest of their lives. The Brompton team have first-hand experience of caring for a child with a serious illness and provide support from the point of diagnosis as well as before, during and after any admission. Their aim is to improve the quality of life and environment for young patients in hospital and at home and make a difference when it’s needed most. We donate to The Royal Brompton from every property we sell, meaning that when you work with us, you too are helping save children’s lives. In addition, we promote their team, and our very own Darren Leggett is their official Santa Clause, and visits the Children on the wards at Christmas to spread a little cheer and happiness.   To visit our YouTube Channel visit https://www.youtube.com/channel/UCABdpXFctboBWr7N6YZ3FLg  


Martells Barn, Slough Lane, Ardleigh, CO7 7RU

Telephone number:

0330 124 7434

Key contact - Darren Leggett:

Synergy Conference 2022 - the new way to do CPD

In the words of James Emery – Tower Street Finance, there is a story here. On the 28th September 2022, the doors opened and delegates were welcomed to The Coach House, Markshall Estate in Colchester. They were offered teas, coffees and breakfasts, then sat at their round tables situated in a beautiful barn conversion. Everyone was smiling, seemingly stress free and I opened the day, thanking everyone for supporting this new conference concept and wishing them a great day of learning. But where is the story in that? It is all quite straight forward; team decide to put on a conference and do so. Well, not quite. To really understand we must go back around five years. Helen and I had not established PLG at this point, and even though I was a partner at another firm I had zero influence. Something I am now happy about as if I was taken more seriously, I would not be where I am today. Helen and I pitched the conference idea and was told it was a stupid one, that it wouldn’t work and when we pushed, we were told we was not good enough and we didn’t have what it takes to make it work. Enter Gill Steel, the oracle herself and owner of LawSkills – Leading Legal Minds. Upon speaking to Gill she declared an interest in not just speaking, but partnering us to put on the conference. Well, when you have that kind of support you know you have a serious chance of pulling this idea off. Yet, again we was told it was a stupid idea and no one would attend. Skip forward to 2021, Gill, Helen and I were sat in Greyfriars restaurant one evening in Colchester discussing the Private Client sector and how Covid had affected the industry. We got back onto the subject of learning and CPD, Gills online training work and how she was due to do one last conference which was to be her swan song, as she was effectively retiring from travelling, however it was cancelled due to the pandemic. Before we knew what was happening the conversation turned to our previous idea of hosting our own conference. “Shall we do it?” “Yes….let’s do it!” I will never forget how I felt at that moment. There was pure adrenalin running through my body. We was doing this. Little PLG teaming up with the leading Private Client speaker in the UK, our vision was going to become a reality, could we do it…..or was we going to be proved wrong? From the start we said this conference had to be different. On speaking with solicitors and legal professionals it became obvious that they had grown tired of the usual format for their CPD, so we decided to do things OUR way. Rather than just talking to the audience, Gill suggested case study, something Helen and I were in total agreement with, as it fitted in with our thoughts too. It would be like PLG Digital, but on stage and live! We also had the mighty Martin P Holdsworth of IDR Law as a speaker. The fact Martin agreed to support us with this project was a huge boost to our moral – and indeed confidence. This man is a legend in the sector, but also very busy, so the fact he agreed to travel from one part of the country to ours was a great compliment. We had our key speakers, and they are the best in the business! Pretty good start I would say. Later that year I attended my brother’s wedding. A beautiful building and grounds, somewhere that screamed class. It dawned on me that this would make the perfect venue for our conference, and as Helen was there with me I chatted with her about it. We took photos and sent them to Gill to gain her thoughts. That was it, we had a venue in mind! Well, we said it was going to be different and let’s be honest, a grand manor house is certainly different to the usual conference rooms we tend to find ourselves in! Enter Ben Furlong of Estate Search. On the 10th Feb 2021 I interviewed Ben for PLG Digital, another incentive of the Property Ladder Group that saw leaders of service providers in the sector be quizzed about how they can provide support to legal professionals dealing with Probate, Court of Protection and Trust matters. At the end of the interview I mentioned to Ben that we was looking to hold the conference, and whether he fancied coming along as a sponsor, something we had given no real thought to at the time. Ben immediately offered to pay for the after event drinks….something that had not been considered. A free drink or two to unwind after a day of learning, a chance to network and catch up with faces old and new? What a plan! Hands shook, deal was done! Helen, Gill and I spoke about food, there was no way we were going for the usual conference chicken (Antony Singer, I will always remember those days…you too had more of an influence than you realise!). So we went all out, ensuring that the best available was booked and that the presentation would be special. We even paid for a dessert wall, where the chef would make 250 mini specialist cakes for the delegates to enjoy. The next time Gill, Helen and I met we looked at the matter of sponsors, and we collectively agreed that we would only invite companies that we would endorse ourselves, that was the whole point of our conference and why we decided on the name "Synergy". We agreed that synergy is what the sector needs, and that collaboration with the right service providers will ensure a greater experience for the end customer, someone that is likely to be going through one of the most difficult times of their life. So, synergy is vital to ensure service delivery. Following this conversation we approached our list, all of which said yes to this collaboration.
  • Arken – Sponsors of the Marque
  • Beaufort Financial – Sponsors of the Coffee Break
  • Fraser & Fraser – Welcome to Synergy Sponsor
  • Tower Street Finance – Lunch
  • Estate Search – After Event Drinks
  • PLG – Dessert Wall
  • LawSkills – Streaming
We also had the following attend as "Stand Sponsors".
  • STEP
  • Today's Wills and Probate
  • Clearance Solutions
  • Legal Growth
  • The Brompton Fountain (Synergy Charity of Choice)
  • Abacus
We were set. We had the list of sponsors, all of whom agreed to be part of the day. We had the food, and the drinks, and of course the venue. What else could we do to enhance the experience though? We sat down and reviewed how delegates kept their notes. The packs we would provide would be great, but what if we were to provide the whole day in a video too? Something the delegates could simply put on and review at their own pace without the need to read. That seemed like a great idea to us, and on speaking with potential attendees they all agreed that it would simply enhance their learning….so we did it! Synergy Conference was promoted on all social media platforms. We had mail outs and did some direct marketing to our more local firms. What a response! We ended up with delegates from all over the UK attending. From Lincoln to Manchester, Devon to London, all travelling to Colchester to be part of this new CPD experience. To be completely honest with you, I did not expect that response at all. On Monday 26th September we received the worst news possible. Prested Hall, our venue had gone into administration. I’ll never forget that moment when I looked at my phone and had nine missed calls from Helen. It was my sons 21st birthday and we were celebrating his day, I called Helen and she told me the news. This was 2:30pm. We had two choices, the first and most obvious, would be to cancel. We had the insurance in place for such a situation, and people would understand. It was not something anyone could have predicted, and we wouldn’t have been able to stop it. Delegates and sponsors would get their money back, and we would take it as a sign! However, there is absolutely no chance we would take that option. We had worked too hard, put in too many hours, made too many promises and invested too much of ourselves to just cancel. Within three hours we had a new venue sorted, The Coach House at Markshall Estate. We arranged new catering, emailed and then rang all sponsors and delegates to make them aware of the change of venue. We sourced a new place for travelling attendees to stay overnight, we even arranged a new dessert wall! Could we pull this off? On the Monday and Tuesday night the PLG team were working until 2am & 3am in the morning to ensure all the brochures were printed and bound correctly, that the layouts were arranged and organised, that everyone had been contacted and the additional admin had been finalised. Wednesday 28th September On almost zero sleep the doors opened, and our wealth of attendees arrived. Feedback included:
“This is the best CPD Conference I have ever been to” “If you are doing another one next year, I will bring my whole team” “Everything was brilliant, I loved the case study and how you involved the sponsors” “The food was the best I have had at any conference, the speaking was great and I thoroughly enjoyed the setup, well done!”
To accompany the end of event drinks we hired a guitarist, just to play some acoustic whilst people mingled. What I realised is that almost everyone stayed behind until around 6:30pm. This was so humbling, as everyone could have left just after 5pm and had an early night, instead people were chatting, laughing and enjoying themselves. At the end of the night, we reflected. Not only had we put on a conference, but it was also the conference we said we would put on. It was unique, engaging, fun, bespoke and everyone I spoke to said they want to book up for next year.

Final thoughts

For me this shows that anything is possible if you work hard and believe in yourself. We had the best group of people around us on the day, and that showed. I also thought to myself, if we can achieve what we did putting this conference on against all the odds and hurdles thrown at us, it shows how capable we are as a company, and just how helpful we can be to our clients when the chips are down, and they need real support. The romantic part? The conference was held around the corner from our old office, the very place we were told we couldn’t do it.

Thank you to…..

From a personal note, I would like to thank: Markshall Estate – the work you put in to help us make the conference perfect and in keeping with our vision was outstanding. Coggeshall Catering Co. – The food was out of this world and we cannot praise you enough for the full bellies! Dave Gellet – Your vocals and guitar skills at the end of the evening were enjoyed by all parties, my personal high was Toto’s Africa! KALM Creative – True professionals and such great support for all the recording and audio tech for the day. You were all fantastic. Rainey Bakes – The cakes all went! If not eaten on the day they were taken home in abundance! Synergy Promotional Merchandise was supplied by:
  • XL Displays
  • Apprintable
  • Total Merchandise
  • Positive Media Promotions Ltd
Thank you all for helping bring our vision to life! I would like to thank each and every sponsor, your interaction with Gill on the case study has received fantastic feedback! Thank you to our wonderful delegates. Without your faith and support there would have been no conference. You are all amazing and I look forward to catching up with you all again in the near future. Martin Holdsworth, I have said it once, but again – thank you. You are a friend as well as a colleague. Gill Steel. There are no words for how I feel about you. Your support and belief in me and what I do really is the most amazing feeling. I have had people ask how I managed to gain support from you, I wish I knew the answer. I can only think that we are as likeminded as two people ever could be. You are an inspiration to me, and again I class you as a good friend as much as a colleague. The PLG Team – You are all amazing. The hours you have kept, the support you have shown…you are the best group of people I have known and I am truly grateful for you all. Helen Graham. I have no words. Without you there would be no PLG, no Synergy Conference and if we are honest, probably no me. I would want for no other business partner, or best friend. We are no "joke company" are we?