Although more new houses were put up for sale in December, transactions were hampered by sellers asking too high a price for their properties, according to the Royal Institution of Chartered Surveyors (RICS). December saw the number of houses put up for sale increase for the third month in a row, especially in London where [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market is suffering due to fears over the economy. However, the Institution said the number of enquiries from potential new buyers increased marginally in the month, with 3% more surveyors reporting a rise rather than a fall. First-time buyers, in particular, [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in June with house prices falling more than expected. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers remain uncertain about the economic climate. These factors, together with the ongoing mortgage [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the traditional spring selling season has been hit by a lack of mortgage finance and economic uncertainty. This time of year is traditionally busy for the housing market but securing a mortgage remains difficult for many potential buyers – particularly first-time buyers. Furthermore, the [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported a pick up in the number of house viewings in April, as a result of the warm weather. This time of year is traditionally busy for the housing market but securing a mortgage remains difficult for many potential buyers – particularly first-time buyers. Furthermore, the [...]
The Royal Institution of Chartered Surveyors (Rics) has today revealed the UK housing market remained weak last month. The Institution’s March monthly survey revealed sales and prices were flat, while interest from prospective buyers was waning. However, London appears to be bucking the trend with house prices in the capital rising for a second consecutive [...]
The Royal Institution of Chartered Surveyors (Rics) has today revealed the UK housing market remains weak. However, it appears house price falls are easing. While prices in England and Wales continued to fall last month, it was at the slowest pace since last summer. The Rics revealed 26% more surveyors reported house price falls than [...]
The Royal Institution of Chartered Surveyors (Rics) has today revealed uncertainty surrounding the economy means buyers and sellers remain cautious. As a result, the housing market has got off to a slow start in 2011 as buyer demand remains weak and supply levels remain low. However, the Institution said new buyer enquiries picked up in [...]
The Royal Institution of Chartered Surveyors (Rics) has today revealed activity in the UK housing market fell in December as heavy snowfall gripped most of the country during the month. The Institution said new buyer enquiries were down, while new instructions from vendors fell to an 18-month low. Uncertainty surrounding the economy and the ongoing [...]
The Royal Institution of Chartered Surveyors (Rics) has today indicated house prices could fall by around 2% in the next 12 months. However, the Institution highlights that the fall could be much more severe if the Government’s austerity measures hamper the economic recovery. Many reports have pointed to a cooling housing market with continuous falls [...]
The Royal Institution of Chartered Surveyors (Rics) today revealed the ongoing lack of buyers and economic uncertainty continues to impact negatively on the housing market. There continues to be a high number of unsold properties on the market as buyer demand continues to weaken. Buyers have adopted a “wait and see” approach as uncertainty continues [...]
The Royal Institution of Chartered Surveyors (Rics) today reported the lack of buyers continue to weaken house prices. In its latest survey, it found that new buyer enquiries declined for the fifth month in a row as the housing market continued to slow amid the uncertain economic climate. Many potential buyers have said they remain [...]
Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices crept up by 0.7% in August compared with July, with the average UK home costing £213,116. On an annual basis, house prices were up 8.3% in August, slightly down from the 8.4% reported in July. Despite the monthly rise, [...]
Surveyors are feeling less optimistic about UK house prices, with more respondents to the Royal Institution of Chartered Surveyors’ (RICS) August survey expecting prices to fall, rather than rise, over the next three months. However, RICS spokesman, Jeremy Leaf, points out that while prices in many parts of the country may be slipping, sales levels [...]
Despite the doom and gloom surrounding the housing market currently, there is some positive news from the Council of Mortgage Lenders (CML). According to the CML, 52,000 new loans were granted to home buyers in June - 19% higher than in May and up 14% on June 2009. CML economist Paul Samter points out that [...]
House prices have shown signs of a fall for the first time in a year. In its latest survey of member, the Royal Institution of Chartered Surveyors (RICS) found that 25% had seen prices drop in the last three months, compared with 11% reporting rises and 64% reporting no change. In July, new buyer enquiries [...]
In its June Housing Market Survey, the Royal Institution of Chartered Surveyors (RICS) reports that buyer enquiries fell for only the second time since the latter part of 2008. At the same time, new instructions rose to their highest level for three years, weakening optimism over future house price growth as the average stock on [...]
The Royal Institution of Chartered Surveyors (RICS) has reported a rise in stock levels on estate agents’ books, following last month’s abolition of Home Information Packs. In May 21% more RICS members reported a rise, rather than a fall, in new instructions, up from 11% in April. In addition, 22% more chartered surveyors reported a [...]
The UK housing market is experiencing a Spring boost, according to the Royal Institution of Chartered Surveyors (RICS). In its April survey of members, a net balance of 17% more surveyors reported a rise (rather than a fall) in house prices, compared with a positive balance of 9% in March. Furthermore, the average number of [...]
Households more optimistic about their finances
Household finances are still deteriorating, but at a slower rate, according to the Markit household finance index. The index increased from 37.5 in July to 38.9 in August, with figures above 50 representing a positive change in household finances, and figures below 50 representing a negative change. The August figure represents the third consecutive monthly [...]
Think tank calls for council housing sell off
The Policy Exchange, a leading UK think tank, is calling for expensive social housing to be sold as it becomes vacant. This could raise £4.5 billion a year and the money could be used to create the largest social house building programme since the 1970s, the think tank suggests in a new report. Between 80,000 [...]
Barclays appoints new chairman
Barclays has announced the appointment of Sir David Walker as its new chairman. He will take over from Marcus Agius who resigned from the role after Barclays was fined £290 million by regulators in the UK and US for manipulating Libor, the interbank lending rate. The appointment of Sir David, a respected and experienced banker, [...]
Post Office stepping up mortgage offering
The Post Office is expanding its mortgage service with the introduction of mortgage specialists in its branches. Mortgages have been available from the Post Office since 2009, but applications have had to be made online or over the phone. It currently offers mortgage with deposits as low as 10 per cent and plans to enhance [...]
Help Loan closed after breaching money-laundering rules
Payday Loan company MCO Capital has been closed down by the Office of Fair Trading (OFT) and fined £544,000 after failing to check the identity of its borrowers. The firm, which traded as Help Loan, was targeted by criminals and cheated of more than £1.5m by the fraudsters due to its negligence. The criminals stole [...]
Health insurance becoming unaffordable warns Bupa
The rising cost of private healthcare is pushing health insurance in the UK up to unaffordable levels, according to international healthcare group Bupa. A lack of competition among private hospitals has led to the cost of treatment rising, and the insurer says that this could lead to health insurance becoming unaffordable. An increase in the [...]
Bank of England forecasts zero economic growth
The Bank of England does not expect the UK economy to grow at all this year according to its latest quarterly report. It had previously forecast growth of 2 per cent for 2012 but recent gloomy economic data has led to the growth forecast being revised downwards. The forecast for medium-term growth has also been [...]
Standard Chartered in money-laundering scandal
Standard Chartered has become the latest UK bank to be accused of illegal activity. It has been accused by the New York department of financial services of hiding $250 billion worth of illegal transactions with Iranian banks between 2001 and 2010. The US regulator claims that the bank, which has wholesale banking, corporate finance and [...]
Economy benefiting from PPI refunds
The UK economy is receiving a welcome boost from compensation paid by banks to customers who were mis-sold payment protection insurance (PPI). British banks have already paid out £9 billion after it came to light that they had been routinely mis-selling insurance policies designed to protect repayments on mortgage, loan and credit cards. With payouts [...]
Average house price falls to £161,000
House prices fell in July, to an average of £161,094 across the country, after increasing in the previous two months. Prices fell by 0.6 per cent in July, compared with the previous month, according to the Halifax House Price Index. Average prices are also 0.6 per cent lower compared with July 2011, the Halifax said. [...]
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