Tag Archives: chartered surveyor

More House Price Gloom as Market Flatlines House Prices, Latest Articles, Property Market News, Property Sales & Sourcing

House built up with jigsaw pieces

"CLG have found a stagnant market"

The latest official statistics confirm the housing market is sluggish and is not showing any signs of a revival at any time soon.

The government’s Communities and Local Government statistics for July show that house prices fell 1.5 percent year on year and a nominal 0.3 percent from June.

The average house price is now £ 207,690.

Prices fell slower in Wales (-0.1%) than England (-1.5%) and Scotland (-1.8%).

London has the highest average house price (£347,271). The North East has the lowest at £133,163. Continue reading More House Price Gloom as Market Flatlines


Buy to Let Supply Dries Up as Demand Increases Buy to Let News, Latest Articles, Property Market News

House with for rent sign

"Buy to let supply is drying up"

The availability of homes to rent is drying up as tenant demand continues to outstrip supply, according to letting agents.

Strong demand from frustrated would-be buyers is the key driver behind the rush for lettings, said the Royal Institution of Chartered Surveyors (RICS), as many prospective tenants are struggling to find a mortgage or raise a deposit.

One in four letting agents confirmed they are dealing with more new tenants rather than a fall in inquiries. Continue reading Buy to Let Supply Dries Up as Demand Increases


What’s Your Opinion About Sentiment Surveys? Latest Articles

Big red X on survey form

"Surveys of a survey"

Around a quarter of UK landlords are feeling more optimistic about the prospects for their property portfolios, rental income and yields, according to a sentiment survey by a buy-to-let lender.

The findings of the Paragon Mortgages research come at the same time as those of another sentiment survey by the Royal Institution of Chartered Surveyors concludes the housing market is ‘flat’. Continue reading What’s Your Opinion About Sentiment Surveys?


London’s calling corporate investors in to buy to let Latest Articles, Property Sales & Sourcing

Tower bridge and City Hall, London

"London could become a property investor battleground"

London buy to let landlords may soon have to fight toe-to-toe with institutional investors for prime residential property.

Soaring rents and a shift from owning a home to renting a home for younger adults is triggering fresh interest in residential investment from pension funds and property companies ready to pour millions into housing in the capital.

A key indicator is a rekindling of interest in letting homes from British Land. The firm stepped out of the residential market in 2006, just before the property bubble burst.

Decreasing investment risk by partnering-in building houses with developers and the government, as well as rising rents, is making many institutions look again at putting money into homes.

The residential investment market has reversed from get-rich-quick aspirations based on soaring house prices to a more long-term view based on stable yields. The strategy is buy to rent, not buy to sell.

The residential property business model outside the UK has always favoured corporate rather than personal investors.

Successive governments have tried to spark institutional investment interest with REIT trusts without much response, but the hope is now that a changing market is making residential property investment more attractive for big funds.

The target is residential property within the M25 – the motorway effectively places a ring of confidence around the capital that is encouraging investors.

House price surveys, rental returns and professional opinion from august bodies like the Royal Institution of Chartered Surveyors all indicate a widening gulf between the London property market and that of the rest of the UK.

London & Stamford extended the firm’s residential portfolio to around £150 million with the recent acquisition of more than 100 homes in Islington, North London, for £50 million. The deal is reckoned to return a yield of 5.3% climbing to around 10% over three years on a purchase that was 20% below market value.

Chairman Raymond Mould said: “We can see strong rental growth in the Central London residential market not only due to the constrained development of new build but also because first time buyers continue to be kept out of the market by the need for higher mortgage deposits than was historically the case.”


House prices stuck in a rut for up to 10 years Latest Articles, Property Market News

Horse stuck in a holeHouse prices are stuck in a rut and are unlikely to recover to anywhere near pre-credit crunch prices any time soon – and perhaps not for a decade, according to new research.

Accountancy firm PricewaterhouseCoopers predicts prices will still languish 12% below the highs of 2007 in 2015 and reckons the chances of them rising above the previous peak in 2020 is just better than 50:50. Continue reading House prices stuck in a rut for up to 10 years


Do estate agents really know the price of a house? Latest Articles, Property Market News

Jouse on seesaw with question mark

How reliable is house price data?

How a house is really valued is the subject of a seemingly never ending debate raging between economists, estate agents, surveyors and property professionals.

The final figure is not that important to anyone other than a property investor or buy to let landlord looking to buy, sell or remortgage. Continue reading Do estate agents really know the price of a house?


Quick guide to property surveys and valuations Latest Articles, Property Investment Strategies

subsidence crack in brick wallBuying a home or investing in a letting property are important financial decisions, but many buyers fall in to the trap of relying on the wrong information that could cost them dear.
Findings from the Royal Institution of Chartered Surveyors (RICS) revealed around one in four homebuyers picked up bills averaging £1,800 for unplanned building work after picking up the keys to their new property.
This quick guide looks at the main points to consider about property surveys and valuations: Continue reading Quick guide to property surveys and valuations


Bank of England is Googling housing market data Latest Articles, Property Market News

Globe representing internet search

Bank of England researchers are relying on Google for housing market data

The real worth of official housing market statistics has received another knock with the revelation that Bank of England researchers are relying on Google for their data.

The government already spends taxpayers’ money on producing rival housing statistics from the Land Registry and Communities and Local Government Department. Continue reading Bank of England is Googling housing market data


Broadland Housing win eco-home money Latest Articles

Green grassed house

Broadland Housing have won funding from the EU

The Royal Institute of Chartered Surveyors believes more should follow Broadland Housing’s lead and look to the EU for funds through the European Regional Development Fund.

The Norwich-based association has won funding of over £500,000 to improve 11 houses in the area into eco-homes using the latest environment-geared housing advances. Continue reading Broadland Housing win eco-home money


Two jailed for fraud of £50million Latest Articles, Property Investment News

Gavel on silk backgroundA £50million mortgage fraud said to be ‘off the scale in terms of the sentencing guidelines for fraud cases’ by a judge has resulted in a combined 20 years in prison for a property investor and a chartered surveyor.

Saghir Ahmed Afzal and Ian McGarry were charged in 2009 along with six others and plead guilty to six counts. Continue reading Two jailed for fraud of £50million


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