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Tag: RICS

Average house prices may be stable, but the figures hide trouble

Average house prices may be stable, but the figures hide trouble

Much fuss is made over the monthly ups and downs of housing price indicators. But in reality those released recently suggest the average UK house price remains more or less locked at the steady altitude it has followed for more than a year. Taking a consensus from the plethora of available measures suggests an average home costs you today within 1% (probably 1% less) of what it would have cost a year ago and more or less the same as…

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Latest construction data underline tough challenge for the industry in 2012

Latest construction data underline tough challenge for the industry in 2012

The latest official statistics show construction output fell by 0.5% in the final quarter of last year. That is in line with the statisticians’ estimate put out with last month’s GDP data. This fall fits with the raft of other industry data that has shown construction work falling. And it also fits with industry forecasts that construction is set to dive into recession again for the best part a couple of years.

So what should we expect the housing market to do in 2012?

So what should we expect the housing market to do in 2012?

The various data suggesting how house prices shifted over 2011 are mostly in and the vast array of pundits have made their predictions for the market in 2012. So here’s a round up of the prospects for the housing market in the year ahead and a suggestion of what it might all mean for house building. If we look at all the indicators, the picture painted for 2011 was of house prices flatlining. Some indicators were up a little, some down…

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RICS construction survey adds to grim news for the industry

RICS construction survey adds to grim news for the industry

The latest construction survey from the surveyors’ body RICS adds more weight to the forecasts that the industry is tipping into recession. The figures show that while 19% of firms increased work in the third quarter of this year 20% saw workloads fall, providing a net balance of -1%. Basically that’s flat and on the RICS measure the industry has been pretty much hovering between a rise and a fall for the best part of two years since it pulled…

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Things may look slightly better in the housing market, but I wouldn’t get too excited

Things may look slightly better in the housing market, but I wouldn’t get too excited

The balance of the news over the past couple of weeks suggests things are getting better rather than worse. But what does it all say about the medium-term prospects of the housing market? To recap. Today Persimmon released a broadly positive interim management statement with the tasty nugget of a 35% increase in first-time buyer visitors over a year ago. Bovis also released its statement today which said private reservations in the 44 weeks to November 4 were up 22%…

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Housing market seems to be entering a new phase as economic worries grow

Housing market seems to be entering a new phase as economic worries grow

The housing market survey released today by the surveyors’ body RICS adds to other recently released data that all seems to points to a slide in prices everywhere except London – which in housing terms is another country. The RICS data show a negative balance of 23% of those questioned suggesting prices were falling rather over the past three months above those that saw prices rising. This fits with most other house price indicies which suggest that prices are tracking…

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RICS sees some positive signs in the private sector, but its London and South East driven

RICS sees some positive signs in the private sector, but its London and South East driven

Viewed from a particular angle the latest construction survey from RICS seems to come out fairly positive given the current circumstances in which the industry finds itself, although it’s not as upbeat as yesterday’s serving from Markit/CIPS. Workloads are broadly flat according to the RICS survey respondents, which is a bonus in my book given the state of the economy and the outlook.

Spiralling rents pose a tough question for Shapps: Where will the new homes come from?

Spiralling rents pose a tough question for Shapps: Where will the new homes come from?

The latest survey of the residential rental market by the surveyors’ body RICS is likely to wind up the pressure on the housing minister Grant Shapps to promote more house building. The survey suggests that rents are rising ever faster, driven by rising demand in a market where supply is constrained, as the graph taken from the RICS survey shows.

Thank God for the bankers

Thank God for the bankers

The latest survey of construction by the surveyors’ body RICS paints a generally brighter picture of the industry’s activity and prospects albeit with some rather dark patches. A crude summation might be that commercial and housing in London and the South East is doing “good”, while everything else and everywhere else is doing “average” or “bad”. Or to put it another, perhaps more cynical way, thank God for the bankers.

Little comfort for house sellers in latest market data and none for those wanting more homes built

Little comfort for house sellers in latest market data and none for those wanting more homes built

For those hypersensitive to twitches in the housing market the latest batch of data will not be comforting. Today we see the housing survey results for April from the surveyors’ body RICS, which its economists interpret as revealing a broad-based improvement, albeit within a market that remains fragile.