Latest news with #RoyalInstitutionofCharteredSurveyors
New Straits Times
19-05-2025
- Business
- New Straits Times
Asking prices for UK homes have smallest spring rise since 2016
LONDON: Asking prices for homes put up for sale in Britain have risen by the least for the late spring period since 2016, according to data published on Monday that added to signs of a slowdown in the country's housing market after a tax break ended in April. The average price for houses and apartments advertised between April 6 and May 10 rose by 0.6 per cent from a month earlier and prices were up by 1.2 per cent from the same period last year, property website Rightmove said. The price increase pushed the average price to a new record high of just under 380,000 pounds (US$505,000). But it represented the slowest monthly rise for the time of year in nine years. These relatively subdued price increases - which are well below the pace of average wage growth and consumer price inflation over the past year - contributed to a 5 per cent annual rise in completed sales for the latest period, Rightmove said. The price weakness reflected the highest number of homes for sale in a decade, while demand in April was down 4 per cent compared with April 2024, hit by the end of the tax incentive for purchases of cheaper homes and for first-time buyers on April 1. The year-on-year fall in demand was the first so far in 2025. But there were signs that April's lull would prove temporary as interest among buyers picked up in early May. The Royal Institution of Chartered Surveyors has previously said Britain's housing market slowed in April after the end of the tax break which pushed up demand earlier in 2025.
Reuters
18-05-2025
- Business
- Reuters
Asking prices for UK homes have smallest spring rise since 2016, Rightmove says
LONDON, May 19 (Reuters) - Asking prices for homes put up for sale in Britain have risen by the least for the late spring period since 2016, according to data published on Monday that added to signs of a slowdown in the country's housing market after a tax break ended in April. The average price for houses and apartments advertised between April 6 and May 10 rose by 0.6% from a month earlier and prices were up by 1.2% from the same period last year, property website Rightmove said. The price increase pushed the average price to a new record high of just under 380,000 pounds ($505,000). But it represented the slowest monthly rise for the time of year in nine years. These relatively subdued price increases - which are well below the pace of average wage growth and consumer price inflation over the past year - contributed to a 5% annual rise in completed sales for the latest period, Rightmove said. The price weakness reflected the highest number of homes for sale in a decade, while demand in April was down 4% compared with April 2024, hit by the end of the tax incentive for purchases of cheaper homes and for first-time buyers on April 1. The year-on-year fall in demand was the first so far in 2025. But there were signs that April's lull would prove temporary as interest among buyers picked up in early May. The Royal Institution of Chartered Surveyors has previously said Britain's housing market slowed in April after the end of the tax break which pushed up demand earlier in 2025. ($1 = 0.7524 pounds)
Daily News Egypt
18-05-2025
- Business
- Daily News Egypt
Claro expands into Gulf with new UAE office
Claro, a leading provider of real estate valuation and advisory services, has announced the launch of its first office in the Gulf region, based in the United Arab Emirates. This milestone marks a key step in the company's regional expansion strategy, aimed at addressing the growing demand for high-quality real estate consultancy across the Gulf. The move reflects Claro's commitment to delivering advanced expertise and internationally accredited services that contribute to the development of regional real estate markets. By combining deep market insight with cutting-edge tools, Claro aims to be a trusted partner for investors and developers in the Gulf, offering comprehensive, data-driven solutions tailored to evolving client needs. As the first Egyptian real estate platform to achieve international accreditation, Claro stands out for its commitment to global best practices. The company is licensed by the Royal Institution of Chartered Surveyors (RICS) and is the first Egyptian firm in its sector to join the International Valuation Standards Council (IVSC). These distinctions ensure Claro adheres to the highest levels of accuracy, transparency, and professionalism. In addition to these global credentials, Claro is certified by Egypt's Financial Regulatory Authority (EFSA) and the Dubai Land Department—strengthening its ability to offer reliable, regulation-compliant services across markets. Claro's offerings include precise property valuations (Fair Value), a region-specific Value Map, and the Claro Clock—an innovative tool that tracks property lifecycle stages. Leveraging artificial intelligence, the company also delivers smart advisory tools to support marketing, sales, and investment decisions. This expansion positions Claro to play a pivotal role in shaping the future of real estate consultancy in both Egypt and the broader region, delivering integrated solutions that drive sustainable market growth.
Business News Wales
01-05-2025
- Business
- Business News Wales
Construction Workloads Boosted in First Quarter by Public Housing Activity
Construction workloads in Wales rose through the first three months of 2025 according to the latest Royal Institution of Chartered Surveyors (RICS) Construction Monitor, as a rise in public housing activity bolsters the sector. A net balance of 10% of surveyors in Wales reported a rise in overall construction activity, up from 3% seen in the final quarter of 2024. Public housing continues to see the highest workloads balance, with a net balance of 50% reporting an increase, the highest this balance has been in three years. Workloads in the private industrial subsector fell flat, and the net balances of the rest of the subsectors were all in negative territory; private housing (-14%), private commercial (-26%), infrastructure (-7%) and other public works (-5%). Surveyors in Wales remain optimistic about future workloads, with a net balance of 20% of respondents expecting an increase over the next year, up from 16% in the survey previous, and above the UK average of 17%. In saying this, profit margins are still expected to fall over the next 12-months. A net balance of -7% of surveyors in Wales anticipate that profit margins will decline. Welsh surveyors continue to report shortages in skilled workers. 60% report a shortage in quantity surveyors, down from 65% in Q4 2024, and 48% note a shortfall in other construction professionals compared to the 50% reported in the previous survey. 47% report a deficit in bricklayers which is down from 66% that was reported in the final quarter of 2024. Survey respondent John Pugh, chartered building surveyor and conservation consultant in Ruthin noted that the sector appears to be very buoyant. Jodie O'Connor of Penfro Consultancy Limited in Pembroke Dock said: 'Improved access and additional investment in training and retaining professionals across the West Wales region is essential to support the growth and development of sustainable energy projects and related infrastructure.' Commenting on the UK picture, RICS Chief Economist, Simon Rubinsohn, said: 'Construction activity was largely flat over the quarter with respondents expressing a little more caution in the face of the heightened level uncertainty both at a global and domestic level. In particular, concerns about the implementation of tariffs and what this might mean for costs and economic activity as well as the potential impact of the uplift in employer NI contributions are highlighted in the feedback. 'Significantly, aside from financial issues the most cited obstacle to activity referenced in the survey is planning and regulation which chimes neatly with the government's agenda. Addressing this issue is critical if the ambitions around housing and infrastructure are to be met. 'That said, for now the forward-looking metrics point to a relatively modest uplift in construction workloads over the next twelve months with profitability in the sector remaining under pressure.'
Time Business News
26-04-2025
- Business
- Time Business News
Level 2 Homebuyers Survey Checklist
Making a purchase of a house requires you to make sure your investment is wise and protected. Doing a Level 2 Homebuyers Survey is one of the most important actions in the property-buying process. Helping you understand precisely what to anticipate from your survey and how to act on the findings, we advise homebuyers throughout the UK at Avamont UK through this essential phase of their journey. We have broken down the contents of a Level 2 Homebuyers Surveyors near me and provide a useful checklist to enable you to remain confident and orderly while looking over your prospective house. Usually referred to as a Homebuyers Report, a Level 2 Homebuyers study is a mid-level property study carried out by a licenced RICS (Royal Institution of Chartered Surveyors). Designed for traditional homes in fair condition, it provides purchasers with a succinct, straightforward report on the general condition of the property. Although the survey is non-intrusive—that is, the surveyor won't drill into walls or raise floorboards—it nonetheless provides a good general picture of the state of the house, therefore exposing any obvious problems that could require fixing before purchase. Generally speaking, the state of the property Clearly visible structural problems include fractures or indications of sinking Levels of wetness and dampness Roof, walls, ceilings, flooring (visual only) Windows and doors Insulating and drainage, if at all possible Timber, damp-proofing, and insect issues Heating systems, electrics, and plumbing (general review, not tested) Legal concerns pertaining to your solicitor Market appraisal and optional rebuild cost insurance Here is a thorough checklist to assist you in knowing what to anticipate from the Level 2 Homebuyers Survey and guide your experience with it: Select a qualified RICS surveyor. Make sure the hired specialist has RICS-certification always. Every one of our surveyors at Avamont UK is certified and has inspected properties all throughout the United Kingdom. Schedule your survey right away upon acceptance of your offer. This helps you to find any possible problems before making further commitment to the buy. See your surveyor to find out whether the report will address structural integrity, damp problems, insulation, fittings, and roof condition. Verify this ahead of time if you want a value included. The Level 2 Survey looks not under flooring or behind walls. If the home is older or in bad condition, ask if a Level 3 Building Survey might be better suitable. The surveyor's assessment will be: Architectural tiles and chimneys Drainage and gutter Pipes and walls and pointing windows and doors Indices of decay, invasion, or outward cracking You should anticipate the survey evaluating: Flooring, walls, and ceilings for variances or moisture Windows showing deterioration sign Stairs, bannisters, and evident fittings Insulation (should it be available) Commonly occurring in UK houses is damp. The surveyor will check for damp in important places using a moisture meter and document the probable cause and necessary repair work. Along with recommendations on possible severity and if additional professional assistance is required, obvious indicators of structural movement—such as cracks in plaster or brickwork—will be noted. The Level 2 Survey has a colored-coded system: Green: Not needed any action here. Amber: Though not absolutely necessary, attention is required. Red: Errors needing immediate fixing or further research At Avamont UK, we take great satisfaction in producing concise, understandable findings usually within 48 hours after the inspection. The final report will include market value and insurance rebuild cost if you have chosen those options. Planning for house insurance and mortgage needs both benefit from these numbers. Should major problems surface, you can: Change the buying price. Ask for repairs before you trade. Plan for next projects using your budget. If the problems are really serious, walk away. During what might be a trying period, a Level 2 Homebuyers Survey provides comfort of mind. It guarantees there are no secret surprises waiting for you once you move in and clarifies the state of the property. Following the checklist above will help you to be completely ready to grasp the survey findings and guide your choice of future residence. TIME BUSINESS NEWS
