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The Latest Breaking News from RICS

UK house prices set to fall over next year as mortgage costs shoot up, experts warn

A chief economist for the Royal Institution of Chartered Surveyors has said that "storm clouds are visible" with house prices set to drop over the coming year due to rising mortgage rates

Daily Mirror

House prices in Wales expected to fall over next three months

Low stock has been propping up house prices in Wales but the latest RICS report shows that this has slowed since April 2022

Birmingham Post

UK’s 13-year housing market boom to end in 2023, surveyors predict

RICS report says rise in repossessions will add to supply while soaring interest rates price buyers out of market

The Guardian - UK

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‘Storm clouds gather’ over housing market as mortgage rates rise

Mortgage market turmoil in recent weeks has compounded increasing economic uncertainty, the Royal Institution of Chartered Surveyors said.

The Independent UK

Scottish housing market outlook challenging, amid reduced market activity

New buyer enquiries in Scotland fall for third consecutive month

Insider UK

Tory voters could abandon party if house prices fall, poll shows

Homeowners who voted Tory in 2019 would be put off backing the party at the next General Election if property prices fall, a new survey has found.

Evening Standard

Northern Ireland homebuyer enquiries slide but tight supply underpins prices - RICS

Survey of estate agents said inflationary pressures have deterred buyers

Birmingham Post

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Homebuyer enquiries fall in Wales but low stock continues to push prices up

An average property in Wales now costs £224,858

Birmingham Post

House sales ‘expected to fall in the months ahead but prices are still rising’

A net balance of 39% of property professionals reported a fall rather than a rise in new buyer inquiries in August, according to Rics.

The Independent UK

House sales in Wales fall but shortage of stock drives prices up

Higher interest rates and the cost of living crisis were cited for the drop in market activity

Birmingham Post

Rich buyers will sustain London’s prime housing market, says Savills

The average price of a property sold by the group grew 16% to hit £2.2 million.

Evening Standard

House prices ‘moving firmly upwards despite falls in new buyer inquiries’

The Royal Institution of Chartered Surveyors said house prices are still expected to be higher in a year’s time.

The Independent UK

Labour shortages challenge Scottish construction firms

Latest industry survey reveals solid growth, but with moderated expectations around skills and costs

Insider UK

Expansion of Welsh construction sector showing signs of slowing

New research from the RICS shows a reduction in the positive net balance of firms reporting rising workloads

Birmingham Post

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Birmingham Post

Interest rate hikes and cost of living causing Welsh commercial property market slowdown

Occupier demand for commercial property across all sectors in Wales has eased

Insider UK

Scottish commercial market slows as interest rate hikes weigh on outlook

The Royal Institution of Chartered Surveyors calls for levelling up measures to boost investment as market flags

Birmingham Post

Housing market in Wales continues to grow as three Welsh towns see prices jump by more than 25%

But the cost of living crisis, interest rate hikes and rising borrowing costs have all led to speculation that the market will cool

Evening Standard

London house purchase enquiries up despite national downturn

Lack of new stock continues to hamper activity, says Royal Institute of Chartered Surveyors (RICS)

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The Independent UK

Housing market demand cooling but prices still heading upwards, say surveyors

House prices and rents are expected to increase in the months ahead, the Royal Institution of Chartered Surveyors said.

Wales Online

Wales' crackdown on second homes won't help people in rural areas get on the property ladder, warns leading UK housing body

Plans for councils to be able to cap the number of homes in an area have been announced

Birmingham Post

Northern Ireland house prices head higher but "softening" on the horizon

Both RICS and Halifax reported price rises but inflation is beginning to bite

The Guardian - UK

Cost of filling petrol car hits £100 in ‘truly dark day’ for drivers; ECB plans July rate rise – as it happened

UK fuel prices keep climbing and European Central Bank signals end of ultra-loose monetary policy

The Independent UK

House hunter numbers edge down as living costs and higher interest rates bite

The Royal Institution of Chartered Surveyors highlighted the rising cost of mortgage finance alongside growing concerns over the economic outlook.

Birmingham Post

These are the best designed new buildings in Wales

The Welsh winners will now compete in the UK awards from the RICS in October

Birmingham Post

Double RICS awards for University of Birmingham

Institute takes home pair of prizes at annual ceremony celebrating property excellence from across the West Midlands

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