This week’s news

On this week’s Property News Radio, we’ve got surveyors being sad, London not looking so rad, fall-overs being bad and the American economy being rad! Rob B’s no rapper but as a semi-decent podcaster he brings you this week’s property news!

 

RICS’ market gloom – supply drought, flat sales, struggling prices

RICS release a report every month and this month and they question surveyors every single month about their confidence in the market. Overall the market is still in positive territory but they are just less positive from their previous position. When you dig into the information in this article (link below), you’ll see its London where surveyors are most negative. 45% of surveyors in London are seeing a decline in prices for the month, with the Southeast and East Anglia being relatively flat but Northern Ireland, the North West and the Midlands all varying much better, which is a representation of what’s currently happening within the market. However what’s interesting about the surveyors report is that the information is already out there and this data is more up to date, so when the index’s come out from Halifax and Nationwide and others in a month or two it will probably reflect this data.

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London: 52% of industry thinks market deteriorated in past quarter

Professionals in the property market in London have indicated that they feel the market has deteriorated over the last quarter. A survey of 3,000 people in total, 52% believed the market has deteriorated. Although this is just over half and could be see as not that many, people in the industry generally want to feel quite positive about the market they’re operating in and for 52% to feel negatively about the market says a lot, and actually relates to the previous RICS story.

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25% fall-through rate is major improvement, claims quick sale firm

According to firm Quick Move Now, over a quarter of prospective house sales completed in the past three months has fallen through at some stage. It claims that 26 per cent of all house sales across England and Wales fell through before completion in Q2 – but that represents a significant decrease from the 35 per cent fall through rate seen in the three months from january to March inclusive. It’s amazing how volatile the market is!

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Yellen cautious on low inflation as Fed plots rate rises

A closer look into the America’s economy including a positive statement from Janet Yellen Head of the Federal Reserve, who set the interest rates. The statement released is very upbeat about the American economy and also hints that further interest rises are on the way. So how does this affect us in the UK? Well Rob B explains that our economy (like it or not!) is very interlinked with the American economy and the fact that it is doing well is very encouraging especially after the impact Brexit has had on the UK.

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Quirky News

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