Tag: RICS
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Homebuying Heartbreak – the Pitfalls of Property Downvaluation
You’ve finally found your dream home, struck a deal below the asking price, and everything seems perfect—or so you thought. The reality of homebuying often includes unexpected hurdles, and for many, a mortgage valuation returning significantly lower than the agreed purchase price is a common stumbling block. This scenario is exactly what one couple faced…
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Welsh Homebuying Increases in Spring
April brought more good news for the Welsh property market as homebuying activities continued their upward trajectory. According to the latest figures from the Royal Institution of Chartered Surveyors (RICS) Residential Market Survey, there’s a clear indication that the market is thriving. For the fifth consecutive month, Wales has seen a steady increase in home…
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UK Property Market’s Spring Rise Stumbles Over High Mortgage Rates
The anticipated “spring bounce” in the UK property market hasn’t taken off as expected this year, leaving estate agents and surveyors reporting a slower season than usual. A recent survey conducted by the Royal Institution of Chartered Surveyors (RICS) reveals that rising mortgage rates have significantly impacted buyer enthusiasm and market activities. The RICS monthly…
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Northern Ireland’s Commercial Property Outlook
The commercial property market in Northern Ireland has had a relatively subdued start to the year 2024. The ongoing preference for remote work has continued to influence the market dynamics significantly. This trend was highlighted in a recent report released by the Royal Institution of Chartered Surveyors (RICS) which provides a detailed analysis of the…
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Scottish Commercial Property Demand on the Rise
The first quarter of this year has shown a significant increase in demand for commercial properties in Scotland, specifically in the office and industrial sectors. This information comes from the latest findings of the Royal Institution of Chartered Surveyors (RICS) Commercial Property Monitor. Key Findings Investment Trends The overall investor demand for commercial properties remained…
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Increase in North East Property Prices Leads UK Market
The North East of England is experiencing the sharpest increase in property prices compared to any other region in the UK. This regional boom contrasts starkly with the broader UK market, where many areas are seeing a decline. Recent data from the Land Registry pinpoints the North East as the UK’s hotspot for property price…
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ONS Price Index of Private Rents (PIPR) – April 2024
The Office for National Statistics (ONS) has released its latest data on private rent prices across the UK for April 2024, providing a comprehensive overview of the current rental market. Here’s a breakdown of the key points from the report, helping renters and investors understand the trends and what they might mean for the future.…
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House Price Realities – Only a Handful of UK Towns Outpace Inflation
The reality for many UK towns and cities starkly contrasts the common belief that house prices double every decade. Since 2005, only a select few areas—Manchester, Bristol, Cambridge, London, Brighton and Hove, and Edinburgh—have witnessed property price increases that surpass the average annual inflation rate of 3.8%. The data, drawn from tracking 30 cities, reveals…
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Brighter Days Ahead for UK Homeowners – House Prices Set to Rise
UK house prices are poised for a comeback, signalling good news for homeowners and potential buyers alike. After a period marked by declining prices due to rising interest rates and a cost-of-living squeeze, the latest industry poll from the Royal Institution of Chartered Surveyors (RICS) brings a ray of hope, indicating a potential uptick in…
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Beware the Hidden Pitfalls, How Remote Surveys Could Lock You into an Unsellable Home
As the remote working trend has seeped into every corner of our lives, it seems the housing market isn’t immune to its effects. But this shift, while convenient, comes with a significant catch for homeowners and potential buyers. A rising trend in banks employing work-from-home surveyors for property evaluations is now casting a long shadow…