Company Tag: RICS

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A 28-month run of rising house prices has come to an end, reports the RICS, as buyer demand tails off and transactions stall.

The property market 'has clearly shifted in a negative direction', says the RICS' Chief Economist, with surveyors expecting house prices and transaction volumes to fall in the coming months.

Surveyors have reported the steepest decline in home-buyer enquiries since the early days of the pandemic.

"It is little surprise that housing market activity is now losing some momentum," says the RICS - but most surveyors "still anticipate prices will be modestly higher than current levels in a year’s time.

Lord Michael Bichard has been appointed Interim Senior Independent Governor of the Royal Institute of Chartered Surveyors, with a remit to implement the 36 recommendations for reform he made earlier this…

House prices are still rising, but the pace of growth is cooling as buyer demand slows.

Lord Bichard's review of how the property industry's leading trade organisation is run makes 36 recommendations, calling for "nothing less than a transformation" of the Royal Institution of Chartered…

Property prices may prove "resilient" in the face of rising interest rates and costs of living, but transaction numbers are "likely to slow as the year wears on," warn surveyors.

"It seems that limited supply available on the market, coupled with steady demand growth, are still the overriding drivers of house prices," says the RICS' chief economist.

Last year's "radical" Planning Bill is long gone, replaced with watered-down reforms that promise local referenda on planning decisions and a few other tweaks.

Six trade organisations - the CIOB, ICE, LI, RIBA, RICS and RTPI - have signed a Memorandum of Understanding which aims "to drive forward the creation of a more diverse, equitable and inclusive" built…