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Positive buyer demand sets tone in “steadier” housing market: RICS

The much-watched RICS survey shows the net balance for new buyer enquiries hit 10 per cent in June, as other indicators also ticked up.

The new instructions metric, which has read negative for a year, “edged into positive territory” and the newly agreed sales balance also changed direction, hitting 2 per cent – the first time this measurement has not declined in 10 months.

The leadline price balance moved from -9 per cent in May to -1 per cent, and the three-month outlook is one of stable house price inflation. Looking ahead to 12 months, 25 per cent more respondents expect house prices to rise, making for an 11-month high in this indicator.

However, RICS also reports that new stock levels are at record lows, and that 24 per cent more of those asked said that appraisals are lower on a like-for-like basis than they were at this time last year.

On the rental side, new landlord instructions fell for the twentieth month in a row, and the expectation is for 3.6 per cent rise per annum growth over the next five years.

Additionally, this month’s survey saw the introduction of a new question regarding the new build premium. Over half – 52 per cent – of those asked said that this ranged from 5-10 per cent across the UK, with one third of those asked saying that the premium had “narrowed” in London.

RICS chief economist Simon Rubinsohn says: “The latest data provides further evidence of the sales market settling down, but I don’t get the impression from the insight provided by contributors that this is fuelling hope of a significantly more active market… many of the factors that have provided a challenge during the first half of the year remain unresolved.”


Construction Building 480

Flexible working “key” to retaining women: RICS

RICS has identified flexible working as the key to retaining and attracting female surveyors. The body conducted a survey which found 48 per cent of respondents voting flexible working as the top recommendation to encourage and retain female staff in the property and construction sector. This was followed by the need for firms to raise […]

Houses, house, property, monopoly

Halifax reports 5.7% UK house price growth

UK house prices shot up 5.7 per cent in the year to June, according to Halifax’s latest figures. The lender’s report also details a month-on-month drop for the first time since April, with the average property price declining by 0.3 per cent. This movement leaves the average house price across the UK at £237,110. Halifax […]

Housing market activity restricted to ‘forced’ moves

Housing market transactions are largely due to people having to move due to life changes, according the Bank of England. In its regular ‘summary of business conditions’ report, compiled by its 12 regional agents who talk to a number of businesses throughout the UK, the bank notes that Brexit uncertainty is having a negative effect […]

FSCS Interior 480

FSCS details 2019/20 levy distribution

The Financial Services Compensation Scheme has outlined how its levy will be distributed across firms in 2019/20. Of the 46,000 firms to pay the body over half – 59 per cent – will contribute less than £50. Over 4,500 firms will not pay any levy, according to FSCS, and will receive an average rebate of […]


Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

In the video, Martin addresses the following:

• Structural features supporting the UK economy
• UK mid-caps and the potential for M&A activity
• Valuations and opportunities in house builders


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