Arts and antiques are a safe investment amidst the current turmoil on financial and property markets, the Royal Institution of Chartered Surveyors (RICS) claimed this week. A RICS survey found that antique prices have held in almost all segments, with silver, militaria and jewellery the strongest performers. In the contemporary arts market, watercolours and oil [...]
New research from the Royal Institution of Chartered Surveyors (Rics) shows that house sellers are now achieving a higher proportion of asking prices. A survey of Rics members has revealed that the gap between selling and asking prices has narrowed to 11% in the past three months, whereas in August of last year the discrepancy [...]
The Royal Institution of Chartered Surveyors (Rics) has reported that buyer interest increased in May, for the seventh consecutive month. A poll of members revealed that the net balance of surveyors seeing a rise, rather than a fall, in buyer interest rose to its best level since August 1999. The trend was most marked in [...]
The latest survey from the Royal Institution of Chartered Surveyors (Rics) describes the mindset of its members as “universally optimistic” over sales. New buyer inquiries across England and Wales increased for the sixth consecutive month in April; around 41% more surveyors reported a rise rather than a fall, pushing the ratio up from 32% more [...]
Sterling rose to its highest level against the US dollar today in three months after the Royal Institution of Chartered Surveyors (Rics) announced that housing market activity is picking up after new enquiries increased for the fifth month in a row. At one point, sterling reached as high as $1.5037 and also hit a six-week [...]
The latest survey of the UK housing market by the Royal Institution of Chartered Surveyors (Rics) shows new buyer enquiries rising for the fifth consecutive month in March, with a consequent increase in newly agreed sales and sales expectations. From a poll of its members, the Institution calculates that the net balance of surveyors reporting [...]
The Royal Institution of Chartered Surveyors (RICS) has warned that it would be ‘premature’ to assume that house prices are on the road to recovery after figures from the Halifax house price index showed an average house price decrease of 1.9% during the month of March. Halifax’s figure countered statistics released by Nationwide, whose house [...]
In its latest survey or members, the Royal Institution of Chartered Surveyors (Rics) found that in February, new buyer enquiries increase at their fastest pace since August 2006. The Rics attributes the rise to sharp cuts in interest rates and falling house prices, both of which have improved affordability. However, the ratio of Rics members [...]
A new survey from the Royal Institution of Chartered Surveyors (Rics) shows a continued rise in the number of potential buyers in the UK housing market. In February, the number of inquiries by new buyers increased for the third consecutive month, with lower prices proving to be the driving factor. House prices have now fallen [...]
The latest report from the Royal Institution of Chartered Surveyors (Rics) shows UK house sales continuing to fall in January despite a rise in buyer interest. The average number of sales per estate agency declined to 9.9 compared with 10 a month earlier, establishing another record low for the survey since it began in 1978. [...]
The Royal Institution of Chartered Surveyors (Rics) has published the results of its December survey, showing a continued fall in the number of homes sold, despite a rise in buyer inquiries. In the final quarter of 2008 Rics members sold an average 10.1 properties per estate agency, compared with 10.6 during the previous three months [...]
The Royal Institution of Chartered Surveyors (Rics) is predicting that UK house prices will fall by around 10% during 2009, although the reduction could be greater if the number of people out of work reaches three million. Such a decline would result in a drop of at least 25% from the peak of the market [...]
The Royal Institution of Chartered Surveyors (Rics) is urging the Government to make use of an estimated 750,000 empty homes to house people who are already homeless or will become so by being repossessed. Since June 2006, local authorities in England and Wales have had the power to issue Empty Dwelling Management Orders (EDMOs) on [...]
Prospective purchasers returned to the housing market in November, with the latest survey from the Royal Institution of Chartered Surveyors (Rics) reporting that 14% more surveyors recorded a rise in buyer inquiries, than a fall. The Rics attributes the shift to a surge in bargain hunters as prices continue to fall and repossessions rise; the [...]
The Royal Institution of Chartered Surveyors (Rics) has reported that property sales continued to fall last month. The decline took the number of transactions to its lowest level since records began, in 1978. A lack of mortgage finance meant that sales per estate agency averaged 10.9 during the three months to the end of October, [...]
The Royal Institution of Chartered Surveyors (Rics) has published the findings of its latest survey, showing that house sales have fallen to their lowest level since records began in 1978. In the three months to the end of September, estate agents sold an average of 11.5 properties, taking the average weekly level of transactions down [...]
The Royal Institution of Chartered Surveyors (Rics) has reported that the average selling price of a UK home is now 9% below the asking price. Rics chief economist, Simon Rubinsohn, warns that the gap could widen in the coming months as vendors are forced to accept lower offers in a shrinking market. Figures from leading [...]
House sales are at their lowest for 30 years. Latest figures from the Royal Institution of Chartered Surveyors (Rics) show that in the three months to the end of August estate agents sold an average 14.4 homes, or 1.1 properties per week. The level of transactions is 47% below August 2007 and compares with average [...]
New regulations aimed at preventing inflated property valuations have come into force this week. The measures are aimed at protecting mortgage lenders who have in the past become the victim of deliberately inflated valuations. In the case of new build city centre flats and apartments, prices have plummeted in the past year because of a [...]
Latest figures from the Bank of England show the number of mortgages approved for house purchases falling in July, to the lowest level since comparable records began, in 1999. The month saw the number of loans for house movers decline to 33,000, down from 35,000 in June and 71% below July 2007 levels. The figure [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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