Latest news with #propertyprofessionals
The Independent
5 days ago
- Business
- The Independent
Why UK rental prices could rise by 25 per cent in three months
The flow of new rental properties coming to market has fallen at its fastest rate in five years, with 31 per cent of surveyors reporting a decline in landlord instructions. This sharp reduction in rental supply is anticipated to push rental prices up by 25 per cent over the next three months, despite tenant demand holding steady. The sales market experienced a downturn in July, marked by a fall in new home buyer inquiries and a net balance of 16 per cent of property professionals reporting decreased sales. House prices are showing a slight downward trend nationally, with 13 per cent of professionals noting falls, though prices continue to rise in Northern Ireland, Scotland, and the North West of England. While the average two-year fixed-rate mortgage has dropped below 5 per cent, the housing market remains "particularly price sensitive" amid ongoing economic uncertainties.
Khaleej Times
30-05-2025
- Business
- Khaleej Times
Dubai's elite gather for the grand launch of 'Masters of Real Estate' at Embassy Suites by Hilton
The glittering world of Dubai real estate was on full display last night as prominent developers and brokers convened at the Embassy Suites by Hilton for the exclusive launch of the much-anticipated book, Masters of Real Estate (MORE). This prestigious event celebrated the remarkable achievements of the city's most influential real estate figures, who are prominently featured in the book. Masters of Real Estate (MORE) highlights the stories, strategies, and successes of Dubai's top-tier property professionals, offering readers a rare glimpse into the minds shaping the skyline of one of the world's most dynamic real estate markets. Each contributor was honoured with a personalised copy of the book in a ceremony attended by industry leaders, media representatives, and key stakeholders. "The purpose of MORE is to inspire, inform, and elevate the standards of real estate by showcasing the journeys of the visionaries behind Dubai's real estate success," said Vikas Bhargava, the author and publisher of the book. "Last night's event was not just a launch — it was a celebration of excellence in the real estate industry." The launch featured a networking session, media interactions, and a presentation highlighting the significance of the book in capturing Dubai's real estate evolution. The evening was a vibrant reflection of the innovation and ambition that define the city's property market.
The Independent
08-05-2025
- Business
- The Independent
‘Home buyer inquiries and sales fall' as buyers adjust to stamp duty changes
Home buyer inquiries and sales fell in April, after a stamp duty holiday expired and as economic uncertainty continued to weigh on confidence, surveyors have reported. Stamp duty discounts became less generous for some home buyers from April 1. Stamp duty applies in England and Northern Ireland. The Royal Institution of Chartered Surveyors (Rics) said that new buyer interest declined for the third month in a row, with a net balance of 33% of property professionals reporting a fall in inquiries rather than an increase. This reflects growing caution from prospective buyers alongside affordability pressures and tight borrowing conditions, Rics said. A net balance of 31% of property professionals saw a fall in sales agreed rather than a rise. This was the weakest figure recorded since August 2023, pointing to a subdued spring market, the report said. More positively, a net balance of 17% of surveyors expect sales to rise over the year ahead. A net balance of 39% of professionals expect house prices to increase over the year ahead. Looking at the lettings market, tenant demand increased in the three months to April according to the report, while a decline in new landlord instructions remained evident, suggesting that rents will rise over the next few months. Rics chief economist Simon Rubinsohn said: 'Although geopolitical developments haven't helped the mood music in the residential market over the past month, the main reason for the dip in the key Rics sales activity metrics lies in the expiry of the stamp duty holiday at the end of March. 'Near-term expectations indicators suggest the subdued trend will persist for the next few months at least, but looking beyond this, the results are more encouraging reflecting in part the prospect of deeper interest rate cuts than previously anticipated. 'More problematic, however, is the negative feedback in the survey around supply in the rental market. With demand continuing to grow, there appears little relief in store for tenants in terms of the upward pressure on rents.' Tom Bill, head of UK residential research at Knight Frank, said: 'Despite a predictable lull in April following the stamp duty cliff edge, demand in the UK housing market is relatively robust. 'The tariff turbulence means the Bank of England is expected to cut rates more quickly, which means more sub-4% mortgages have appeared although demand would falter if things got too bumpy.' Jeremy Leaf, a north London estate agent, said: 'Over the past month or so, we have noticed considerably more tenant interest but a resistance to paying higher rents. 'However, lack of supply, particularly of one and two bedroom flats in more popular areas, often prompted by landlords deciding not to renew, is preventing a more marked downturn in values.'
