View more on these topics

Housebuyer demand down for 12th month: RICS

Cloud-House-Couple-Mortgage-Dream-700x450.jpg

Housebuyer demand fell for the twelfth consecutive month in March, according to the Royal Institution of Chartered Surveyors.

The latest RICS’ member survey shows 17 per cent more surveyors saw a fall in interest in the month rather than a rise.

RICS says affordability is a big factor behind this, as is the lack of new homes on the market.

Sales also continued to fall in March, with 20 per cent more respondents reporting a fall rather than rise.

This trend has been unbroken since February 2017.

The trade association adds that “average stock levels on estate agents’ books remains near an all-time low”.

However, 17 per cent of surveyors said they expect sales to pick up over the next year at a national level.

RICS chief economist Simon Rubinsohn says: “The latest RICS results provide little encouragement that the drop in housing market activity is likely to be reversed any time soon,” he said.

“Apart from the implications this has for the market itself, it also has the potential to impact the wider economy, contributing to a softer trend in household spending.

“This could make Bank of England deliberations around a May hike in interest rates, which is pretty much odds-on at the moment, a little more finely balanced than would otherwise be the case.”

Recommended

Hire-Appoint-Appointment-Portfolio-Pen-700x450.jpg

UK Finance updates conveyancing disclosure form

UK Finance has today published a new disclosure form for residential conveyancing. The new form replaces the disclosure of incentives form and can be completed by a property seller or developer. It is designed to improve the flow of information to all parties involved in the mortgage process. The new form should be provided to a lender’s […]

House-Keys-Mortgage-Estate-Agent-700.jpg

Estate agent reports ‘surge’ in first-time buyers

The number of first-time buyers registering with estate agents jumped 16 per cent in January, as prospective buyers look to take advantage of stamp duty cuts and more stable house prices. According to estate agents Haart the number of first-time buyer registrations was 16 per cent higher in December, and 10 per higher year-on-year. Although […]

Pensions - thumbnail

Lifetime allowance

Jim Grant, Senior Product Insight & Technical Support Analyst Benefit crystallisation events and the lifetime allowance charge – all you need to know. The lifetime allowance (LTA) is the maximum amount that can be crystallised before a charge applies. It used to be £1.8m but it’s steadily decreased to £1m. There’s a whole list of […]

Newsletter

News and expert analysis straight to your inbox

Sign up