Tag: RICS
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RICS Say Mortgage Rates Hitting Housing Market
RICS have released their UK Residential Market Survey for July 2023. Buying a home is getting harder because of higher loan (mortgage) rates. Fewer people are looking to buy, and even fewer homes are being sold.
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Rents Rising Sharply – RICS
RICS has released its monthly survey of letting agents, to gauge the state of the Private Rented Sector (PRS). RICS Findings How Do We Know This? Experts’ Take on the Situation Interesting Numbers to Note Why is the Demand So High? How Competitive is the Market? Harriet Scanlan provides a real-world example: Her estate agency…
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Commercial Lenders Stop Lending
The Financial Times reports on the ongoing problems in CRE (Commercial Real Estate). What’s happening? Some big names in the commercial real estate lending world have stopped lending money to new borrowers. This includes major firms like Blackstone Mortgage Trust, KKR Real Estate Finance Trust, and Starwood Property Trust. Why does this matter? Imagine a…
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RICS Reports Falling House Prices, Buyer Uncertainty
RICS (The Royal Institute of Chartered Surveyors) has released their latest housing market report, and the outlook is getting darker. Summary Conclusion The recent RICS data paints a picture of a cooling UK housing market. Buyers are backing away due to rising mortgage costs and overall uncertainty. While the situation isn’t entirely bleak, with sales…