The Latest Breaking News from RICS

Workloads at construction firms have fallen for the fourth consecutive quarter

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

Lack of new supply underpins

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

Rics data for February shows improvement in new buyer inquiries and sales

The majority of the feedback points to house sales being agreed within 5% of asking prices, the Royal Institution of Chartered Surveyors said.

Welcome to the UK, where affordable housing can often feel like an oxymoron. The average national house price is £294,000, but someone earning the average annual salary of £33,000 can expect to borrow no more than £140,000, leaving a considerable shortfall. The typical first-time buyer is aged 32 and pays…

BoE governor Andrew Bailey has warned MPs that paying for public sector pay rises with borrowing could push up inflation

Further slowdown likely amid interest rate rise and cost of living crisis, says surveyors’ body Rics