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The Latest Breaking News from RICS

Banks offer relief for homeowners as mortgage rates slashed

Predictions of ‘price war’ good news for first-time buyers and hard-pressed mortgage holders

The Independent UK

UK house price falls spread; Wilko falls into administration; US inflation rises to 3.2% – as it happened

RICS house price balance drops again … as more mortgage holders fall into arrears and Wilko takes ‘difficult decision’ to enter administration

The Guardian - UK

Rents set to continue rising sharply despite cost-of-living squeeze, experts say

Fresh rise in costs would mark new high in 24-year records

The Independent UK

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Rents ‘likely to continue rising sharply despite cost-of-living squeeze’

Rental demand shows no signs of letting up and supply remains constrained, the Royal Institution of Chartered Surveyors said.

The Independent UK

UK sees rent rise at fastest pace since records began

The cost of rent is expected to rise even further in the coming months

The Independent UK

Profits at UK homebuilder Barratt drop as buyer demand slumps

Soaring interest rates and end of help-to-buy scheme blamed for driving away first-time buyers

The Guardian - UK

Rising mortgage rates put pressure on housing market in Wales

The latest market survey from RICS showed house prices are expected to fall between July and September

Birmingham Post

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House prices fall as mortgage rate rise hits home buyer inquiries and sales

The impact of increased mortgage rates is ‘clearly visible’ in housing market metrics, the Royal Institution of Chartered Surveyors said.

The Independent UK

Number of would-be homebuyers falls to 8-month low as UK economic anxiety deepens

Survey of estate agents reports growing reluctance among potential homebuyers to make a purchase

The Guardian - UK

Home buyer inquiries, sales and prices fell back in June, say surveyors

The impact of increased mortgage rates is ‘clearly visible’ in housing market metrics, the Royal Institution of Chartered Surveyors said.

The Independent UK

Former RAF Serviceman flying high with Gloucestershire home surveys firm

Joel Fryer served in the Royal Air Force for more than 20 years before a career change brought him to GB Home Surveys

Birmingham Post

Eurozone falls into recession; US jobless claims jump; storm clouds over UK housing – business live

Eurozone economy shrank by 0.1% in the final quarter of last year, and the first three months of 2023, putting it into technical recession

The Guardian - UK

Stock of homes for sale picking up but ‘storm clouds are gathered’

May marked the strongest reading for new property listings since March 2021, the Royal Institution of Chartered Surveyors said.

The Independent UK

Northern Ireland house prices to head higher as market recovers composure

Agents in Northern Ireland are more positive than any other region of the UK

Birmingham Post

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Birmingham Post

More homes coming onto the market in Wales but number of new buyer enquiries fall

But correctly priced properties continue to sell

The Independent UK

UK homeowners prefer ‘smaller, more energy-efficient’ homes, report claims

Buyer demand remains subdued in the face of relatively high borrowing costs, the Royal Institution of Chartered Surveyors says

The Independent UK

Buyers seeking smaller and more affordable homes, property professionals report

Buyer demand remains subdued in the face of relatively high borrowing costs, the Royal Institution of Chartered Surveyors said.

Birmingham Post

Raft of headwinds keeps Northern Ireland construction sector under pressure

Workloads at construction firms have fallen for the fourth consecutive quarter

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Birmingham Post

Labour shortage hindering construction projects in Wales

Over 70% of chartered quantity surveyors in Wales said skills shortages are limiting the sector’s ability to take on more work

Birmingham Post

People on the move: key North East appointments and promotions

Companies and organisations featuring in this week's round-up include the North East England Chamber of Commerce, PD Ports and Artech Lighting

Birmingham Post

Welsh commercial property activity continues downward trajectory as investor and occupier demand falls

RICS has published its latest data for the first quarter of 2023

Wales Online

Rent prices rise in 'frenzied' market due to shortfall of properties

Tenant demand reached a five-month high. But the number of new landlords has been declining

The Independent UK

Rent prices squeezed higher in ‘frenzied’ market while house sales sluggish

Tenant demand reached a five-month high but the supply of rental properties continues to decline, surveyors said.

Birmingham Post

Northern Ireland housing market continues higher despite inflationary pressures

Lack of new supply underpins

The Guardian - UK

Crypto bank Silvergate collapses; HS2 delayed; US jobless claims jump – as it happened

Rolling coverage of the latest economic and financial news, as crypto turmoil leads to an “‘orderly wind down’ and ‘voluntary liquidation’ of Silvergate bank

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