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rantnrave

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IMPO the RICs report is a complete waste of time. It is the sale and price expectations of vested interests in the housing market.

Complete waste of time IMPO.

The only housing figures that are relevant are the land registry.

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IMPO the RICs report is a complete waste of time. It is the sale and price expectations of vested interests in the housing market.

Complete waste of time IMPO.

The only housing figures that are relevant are the land registry.

It serves a purpose.

Being compiled in a way that the VIs have something to shout about on TV or spread across the newspapers.

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Too early to mention the riots I suppose.

EDIT: Love the way the headline focuses on the only local area in the country going up. What on earth will they do over the next months?

There must be a thread somewhere already discussing whether images of London burning is going to deter overseas investors.

Edited by rantnrave

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Like this quote:

Neil Hunt FRICS, Wilkins Vardy

Residential Limited, Chesterfield,

Derbyshire, 1246270123 - The summer

holiday slow down has begun with

reduced levels of activity in all areas.

Vendor anxiety is the only growth point

with many clients still in denial of the

falls in value over recent years.

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IMPO the RICs report is a complete waste of time. It is the sale and price expectations of vested interests in the housing market.

Complete waste of time IMPO.

The only housing figures that are relevant are the land registry.

I would tend to agree, but this month's a bit of a bearfest. Says it all, really, when even the VI's are struggling to say anything positive.

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Meanwhile, on Mars...

Ian Perry FRICS, Perry Bishop &

Chambers, Faringdon, Oxon, 01285

655355 - June and July have produced

surprisingly high numbers of sales

agreed. It is apparent that many buyers

see the market as having passed it

lowest point.

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I would tend to agree, but this month's a bit of a bearfest. Says it all, really, when even the VI's are struggling to say anything positive.

They've run out of excuses - too much snow, too much sun, too many bank holidays and last month even Andy Murray got the blame.

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From Bloomberg...

http://www.bloomberg.com/news/2011-08-08/british-house-price-declines-eased-in-july-on-demand-rics-says.html

U.K. House-Price Decline Eases as Demand Rises and Property Supply Falls

U.K. house-price declines eased in July because of an increase in demand, and a measure of values in London jumped to its highest level in more than a year, the Royal Institution of Chartered Surveyors said.

The number of real-estate agents and surveyors saying prices fell last month exceeded those seeing gains by 22 percentage points, compared with 26 percentage points in June, the London-based group said in an e-mailed report today. “Activity levels remain pretty flat and depressed,” RICS said.

The property market is failing to gain momentum as first- time buyers struggle to afford a mortgage and inflation outpaces wage growth. The squeeze on consumers is also hurting retailers, with the British Retail Consortium warning today of a potential “spending paralysis.”

“The U.K. housing market continued to stall during July,” RICS spokesman Ian Perry said in a statement. “Prices edged lower and sales levels remained subdued. The continual problem of inaccessible mortgage finance is still preventing first time buyers from accessing the market.”

Out of the 11 U.K. regions RICS tracks, London was the only area to record an increase in values in the past three months. A price index for the capital increased 9 points to 30, the highest since May 2010.

“A continued shortage of supply, combined with strong demand from cash rich overseas buyers, has seen the Chelsea and Knightsbridge markets continue to rise,” Robert Green, a real- estate agent at John D. Wood & Co. in central London, said in the report. “We have yet to see any significant impact from the sovereign debt crisis, and it may fuel the market further as buyers look for a safe place to put their money.”

Sales Decline

A measure of new buyer enquiries, an indicator of demand, rose 4 points to 5 in July from a month earlier, while a measure showing the number of new property listings slipped to minus 7 from zero, RICS said. In the three months through July, the number of completed home sales per estate agent declined to a two-year low. A gauge of price expectations for the next three months gained to minus 13 from minus 25.

In a separate report, the BRC said same-store retail sales rose 0.6 percent in July from a year earlier, while total sales increased 2.5 percent. The group said consumers were “only tempted into stores” by discounts. Taking into account inflation and a sales-tax increase, today’s data indicate people are “buying fewer goods,” it said.

The BRC report, which is compiled in conjunction with accountancy firm KPMG LLP, measures changes in the actual value of retail sales and doesn’t adjust for price changes.

So the only positive bit they can come up with is sales in London, but as Rantnrave says, if the riots put off overseas buyers, that is unlikely to continue.

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Yip, Bath is special

David Mackenzie, Carter Jonas, Bath,

Somerset, 01225 750900 - Bath is its

own microclimate and property prices

don't follow the national trend.

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I LOVE THIS ONE...............

Peter Fearn FRICS, Keats Fearn,

Farnham, Surrey- This

is one of the slowest markets I can

recall in over 40 years experience.

Sales are taking so long to progress,

once agreed, that buyers and sellers

are apt to withdraw at the last moment,

often on a whim. The work involved for

the poor ( literally ) agent is colossal

compared to the fee received, which is

coming under threat from increased

competition.

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I LOVE THIS ONE...............

Peter Fearn FRICS, Keats Fearn,

Farnham, Surrey- This

is one of the slowest markets I can

recall in over 40 years experience.

Sales are taking so long to progress,

once agreed, that buyers and sellers

are apt to withdraw at the last moment,

often on a whim. The work involved for

the poor ( literally ) agent is colossal

compared to the fee received, which is

coming under threat from increased

competition.

That's quite obviously wrong because there is always demand for posh areas like surrey.

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  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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