Residential Property Review – June 2024 

Housing market update  The UK housing market continues to show modest signs of recovery, according to the latest data from Savills.   Despite some house price growth, a significant upturn is considered unlikely until mortgage affordability improves.   Buyer activity continues to improve, as the number of sales agreed in May was 10% higher than the 2017-2019 […]

Residential Property Review – March 2024

RICS responds to the Spring Budget   The Royal Institution of Chartered Surveyors (RICS) has released a statement in response to the Spring Budget.   On 6 March, the Chancellor announced that twenty more towns will join the Long-Term Plan for Towns, each receiving £20m. RICS was supportive of this investment, as well as the government’s deeper […]

Residential Property Review – November 2023 

Residential supply and demand less downbeat  According to the Royal Institution of Chartered Surveyors (RICS) October UK Residential Market Survey, demand is still falling faster than supply.  New buyer enquiries posted a net balance of -28% during October, marking eighteen successive months in which this indicator has been in negative territory. Nevertheless, the latest reading […]

Residential Property Review – October 2023 

Conditions remain challenging   The residential sales market continues to be challenging, according to the latest UK Residential Survey by the Royal Institution of Chartered Surveyors (RICS), with demand, sales, instructions, and prices remaining in negative territory.  At a national level, new buyer enquiries recorded a net balance of -39% in September, which although weak, is […]

Residential Property Review – September 2023 

Economic uncertainty weighs on the residential market  The most recent UK Housing Market Update from Savills has highlighted that buyers’ budgets continue to be impacted by higher mortgage rates, and although inflation has begun to move lower, core inflation remains ‘unexpectedly sticky.’   During July, with completed sales reducing by 18% on the 2017-19 average, market […]

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