Tag: RICS
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RICS – UK Estate Agents are Most Pessimistic in 14 Years
One of the most striking observations about the UK property market in August was the notable decline in both house prices and sales. According to a report by the Royal Institution of Chartered Surveyors (RICS), house sales and prices experienced a substantial drop during this period. This downturn can be attributed primarily to the impact…
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Government Won’t be Helping House Prices
Experts predict delay in real-terms growth in property prices, with government unlikely to intervene to boost prices in upcoming Autumn Statement Property prices in the UK are expected to experience real-terms growth in two or more years, as higher mortgage rates and cost of living pressures continue to drive down property values. The latest data…
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Buy To Let Properties Sell for 25% Less
Zoopla, one of the UK’s leading property portals, has reported that properties being sold by landlords in the BTL market are typically priced at 25% below the average of the broader housing market. This is an enticing prospect for would-be investors and first-time buyers alike. Why are BTL Properties Selling for Less? Several factors are…
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Inflation-Beating Buy to Let Hotspots,
The Daily Mail looks at the figures for returns generated by buy-to-let properties around the UK, and rounds up some of the best. Are you considering investing in buy-to-let property? With rising mortgage rates, challenging regulations, and a less generous tax regime, many landlords are finding it increasingly difficult to make a good return. But…
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How Much More Will UK House Prices Fall? Experts Weigh In
The past year has witnessed the fastest decline in UK house prices since 2009, leaving homeowners and prospective buyers concerned about the future trajectory of the housing market. With mortgage rates reaching levels not seen in a decade, experts have identified this as a major driver behind the £14,600 decline in the average property value.…
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Student Rents Rise 30% This Year
According to the NatWest student living index, student rents in the UK have increased by 30% in the past year, pushing the national average monthly rent to £591. Unsurprisingly, London remains the most expensive city for student rents, with an average cost of £840. The index takes into account living costs and student income to…
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Renting Out a Holiday Home? These are the Rules
If you’re getting started letting a holiday home, it’s important to know the rules in your area. In Property Reporter today, Ben Edgar-Spier, head of regulation and policy at Sykes Holiday Cottages has a handy round-up of what you need to know – “…the changes being introduced to the holiday letting sector vary across the…
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Bloomberg – The UK Housing Market Hangs in the Balance
The UK housing market’s fate is currently uncertain, with upcoming economic data this week potentially influencing its direction. The focus is on the impact of jobs, wages, and inflation data, which could sway sentiments on future interest rates, affecting mortgage and savings rates. Bloomberg’s money expert John Stepek gave his overview – Key Takeaways:
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New Map Shows Areas With Biggest House Price Falls
The Daily Mail has published an interactive map showing the UK areas with the worst drops in house prices recently. They discussed the state of the market with RICS, who said it “paints the picture of a housing market continuing to lose ground to the effects of higher mortgage rates.” What’s happening with UK House…
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Scottish Prices Fall, First Time Since Covid
House prices in Scotland have started to drop, for the first time since the pandemic, according to the latest RICS report. Key Points Takeaway House prices in Scotland (and the UK) are facing a bit of a dip, influenced by several factors like higher borrowing costs and inflation. However, market dynamics like the balance of…