Tag: RICS
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Landlords Grow More Optimistic, Eyeing Profit and Sustainability in the Housing Market
Recent findings from the Q4 2023 BVA BDRC Landlord Panel research report illuminate a significant uptrend in landlord optimism. This positive shift spans across various metrics, contrasting sharply with a preceding year of pessimism. Landlords are now more hopeful about capital gains on their investments, the robustness of the private rental sector (PRS), and the…
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House Prices Set to Fall, Expert Cautions
Rob Morgan, a leading analyst in the city, has thrown a spotlight on the ongoing challenges facing the UK housing market. Despite a recent increase in optimism, Morgan predicts that house prices are poised for a decline in the coming year. This cautionary outlook comes amidst fluctuating interest rates and the looming uncertainties of inflation.…
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UK Housing Market – Signs of Recovery Despite Challenges
The latest findings from the January 2024 RICS UK Residential Market Survey have sparked optimism in the housing sector, showcasing a series of improvements across crucial market indicators. A standout revelation from the survey is the positive shift in sales volume expectations for the upcoming year, buoyed by the anticipation of interest rate reductions by…
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Mortgage Approvals Jump 25% in December
Mortgage approvals in December 2023 witnessed a significant jump of 25.6% compared to the same month the previous year. This indicates that homebuyers are adjusting to the new reality of higher mortgage rates. The Bank of England’s latest Money & Credit data reveals that December saw 50,459 mortgages approved, a notable rise from 40,186 in…
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House Prices Dip but Market Revives
The UK housing market is showing signs of revival after a slight dip in prices, as revealed by the latest data from property giant Zoopla. Despite a minor decline in house prices at the end of last year, there’s a surge in buyer and seller activity, promising a dynamic market ahead. Let’s break down what…
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Buying a Home vs Renting in Today’s Market
According to the latest analysis by Hamptons, opting to buy a property with just a 10% deposit has proven to be £9 cheaper per month than renting, on average. This marks the first time since May of the previous year that an average single renter finds themselves in a less favourable financial position monthly compared…
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Scottish Commercial Property – A Mixed Bag of Trends and Expectations
In Scotland’s commercial property market, recent data reveals a complex picture of subdued demand, varying trends across sectors, and a cautiously optimistic outlook for the future. Demand According to the latest report from the Royal Institution of Chartered Surveyors (RICS), the last quarter of 2023 witnessed a stagnant overall demand for commercial property in Scotland.…
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2024 House Prices Set for a Slight Dip
Estate agency, Savills, suggests that while UK house prices are predicted to fall by an average of 3% in 2024, there’s a silver lining for prospective homebuyers. As we edged closer to Christmas, it became evident to housing market analysts that mortgage affordability was taking a toll on house prices. Savills now forecasts this trend…
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Phil Spencer’s Essential Tips to Avoid a Property Pitfall
Buying a home is not just a financial decision; it’s deeply personal. One family’s dream home could be another’s nightmare. While location and budget are important, they often aren’t what make you fall in love with or completely dislike a property. In today’s Telegraph, expert Phil Spencer shared some tips. Location Considerations Living on a…
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Scottish Housing Market Sees A Glimpse of Hope for 2024
The Scottish housing market has been experiencing a notable downturn as of November, characterized by reduced supply and demand. This period of decline has been influenced by higher interest rates and ongoing economic uncertainties, which have collectively dampened market activity. As a result, there has been a noticeable decrease in house prices, although this decline…