Tag: RICS
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ONS Rental Price Index, September 2023
The ONS today released its Index of Private Housing Rental Prices for September 2023. According to the Index —an experimental price index that monitors the prices paid for renting property from private landlords in the UK—there has been a significant gain in private rental prices, especially in the year preceding September 2023. A Peak in…
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Mortgage Rate Cuts are not Fast Enough
The UK’s housing market, a complex and often unpredictable beast, is currently experiencing what can best be described as stagnation, following an extended period of escalating borrowing costs. Despite a recent halt in interest rate hikes by the Bank of England, a move that traditionally leads to lower mortgage borrowing rates, the market hasn’t seen…
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Welsh Housing Market Sees More Listings, But Challenges Persist
The property landscape in Wales is experiencing a mix of trends. Despite a surge in new property listings, both sales and prices are undergoing a downturn, according to RICS. The dynamics of the Welsh property market have been anything but predictable, and for potential investors or sellers, understanding these trends is crucial. A Surge in…
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Sales Slump, Rents Rise – RICS
The recent report from the Royal Institution of Chartered Surveyors (RICS) sheds light on a continuing trend of muted residential sales, while highlighting a contrasting surge in the rental sector. The Slowdown in Residential Sales September 2023 did not bring much-needed momentum to the UK’s housing market, as buyer activity persisted in its “subdued” state,…
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House Prices Falling Twice as Fast
The HomeOwners Alliance House Price Watch, which aggregates various indices, provides a clear snapshot. Over the past year, there has been a 3.1% decline in annual house prices. Alarmingly, this rate of decline has doubled from the 1.5% fall reported last month. This marks the third consecutive month where the descent has accelerated, indicating a…
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House Prices – The Hottest and Coldest Areas in the UK
Recently, the property market has been displaying signs of a transformation. The dominant seller’s market, characterized by high prices and quick sales, seems to be making way for a buyer’s market. According to trusted sources like the Nationwide and Halifax house price indexes, house prices are experiencing a decline. This decline isn’t subtle either –…
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UK Private Rental Market: Govt Stats August 2023
The Office for National Statistics released their figures for the UK private rental market for August 2023. In recent data, the prices paid by tenants in the UK for private rentals have experienced a significant rise. Specifically: UK Private Rental Prices: A Closer Look Since January 2016, when this data series began, the August 2023…
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Another Rate Rise Predicted, but it May be the Last?
Interest rates set by central banks like the BoE play a significant role in determining the cost of borrowing for businesses, governments, and ordinary people. Recently, the BoE has been on a spree, adjusting the rates frequently. The Bank of England is preparing, yet again, to make an upward adjustment to the interest rates. If…
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Luxury Property not Immune from the Slump
Recent findings from the Knight Frank Global Super-Prime Intelligence Report have cast an intriguing spotlight on the current state of the luxury property sector, offering key insights that both seasoned investors and novices can learn from. The Bigger Picture: Global Property Transactions in Flux Knight Frank’s comprehensive study focuses on global super-prime property transactions, specifically…
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Landlords Poised for Property Bargains?
In a shifting UK property market, landlords might be poised for their next great opportunity. A new analysis from the Royal Institution of Chartered Surveyors (RICS) suggests that house prices might be on a downward spiral. And while such scenarios could be a cause for concern for many homeowners, it may spell out a boon…