Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Thursday, July 31
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Property»Boom On The Way? Optimism grows for property market …
    Property

    Boom On The Way? Optimism grows for property market …

    July 11, 20244 Mins Read


    Boom On The Way? Optimism grows for property market

    The latest residential sentiment survey from the Royal Institution of Chartered Surveyors suggests a currently-subdued housing market but with a more promising outlook for sales activity across the UK following the General Election and the prospect of a fall in mortgage rates.


    Over the next three months, a net balance of +20 of survey respondents anticipate a recovery in residential sales up from +10 in June and the highest level of sales expectations since January 2022. 


    These results indicate that respondents have confidence in the newly elected Labour government which has voiced a strong commitment to boosting the housing market, aiming to deliver 1.5m homes over the next five years, a figure not hit since the 1960s.



    Looking at price expectations over the next 12 months, a net balance of +54 of respondents believe prices will continue to rise, highlighting a key challenge for the new government as boosting housing supply in the UK will not be an easy task. However, any boost to confidence from aspects such as the possibility of lower interest rates should in theory intensify the nation-wide affordability challenge.


    Tarrant Parsons, RICS senior economist, says: “Although activity across the housing market remained subdued last month, forward looking aspects did improve slightly.


    “There are some factors emerging now that could support a recovery in the months ahead. If the Bank of England does decide that the current inflation backdrop is benign enough to start loosening monetary policy next month, this may prompt a further softening in lending rates. In addition, the recent election delivered a clear outcome, with housing pushed up the political agenda.”


    Looking across to the rental market, a net balance of +28 of respondents saw a pick-up in tenant demand during June (part of the non-seasonally adjusted data).


    Meanwhile, the new landlord instructions net balance slipped from -3 to -11, pointing to a renewed decline in new rental listings. Looking forward a net balance of +38 of respondents anticipate that rental prices will rise over the coming three months – a trend seen since January.


    In response to the survey Sarah Coles, head of personal finance at business consultancy Hargreaves Lansdown, says: “A new government has breathed a new air of optimism into the property market. Agents are hoping this means sales will pick up, and falling house prices will reverse in the year to come. 


    “It’s the most positive agents have been about sales since the start of 2022, and they’re walking to viewings with a new spring in their step. However, it remains to be seen whether buyers will share their view.


    “Before the election, June brought more of the bad news the market has been used to seeing – with falling sales and prices, and dwindling buyer numbers. Things were so miserable that even the number of new sellers fell back. It wasn’t helped by stubbornly high mortgage rates, with Moneyfacts figures showing the average two-year fixed rate remained just shy of 6% for most of the month.


    “July may hold more hope, in part because of the election result, and the arrival of a new government. This isn’t because of anything promised during the campaign. Labour didn’t pledge any particular policies to boost demand – except an extension of the mortgage guarantee scheme for those with smaller deposits. Instead, agents are holding out hope for an upswing in consumer sentiment, buoyed by the optimism that a change at the top can engender, and hope that life in general will change for the better.”

    Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions.
    If any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals, then the post may be deleted and the individual immediately banned from posting in future.
    Please help us by reporting comments you consider to be unduly offensive so we can review and take action if necessary. Thank you.






    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleTracey T. Travis to Retire From The Estée Lauder Companies as Executive Vice President and Chief Financial Officer
    Next Article Cathie Wood’s ARK sells Zoom, buys Blade Air Mobility stock By Investing.com

    Related Posts

    Property

    RICS report: Occupier demand for commercial property in NI has ‘strongest jump for three years’

    July 30, 2025
    Property

    Major improvement in yields and sales in this part of UK

    July 30, 2025
    Property

    HSBC first-half profit slumps 26% as China losses mount

    July 30, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Property

    Ex-company director misappropriated S$7 million under guise of property development in China

    May 20, 2025
    Property

    Property baron exposed by us in bitter feud with ex-Blyth Spartans owner

    February 22, 2025
    Bitcoin

    Bitcoin : nouveau record à plus de 123 000 dollars, dopé par l’espoir d’une régulation favorable aux cryptomonnaies

    July 14, 2025
    What's Hot

    S&P 500’s Record Has This Election Prediction Tool Firmly In Harris’ Favor

    October 11, 2024

    Bitcoin Battles Tariff Turme Autal: Le prix réalisé à 2 ans peut-il tenir la ligne?

    April 10, 2025

    Why HNW Investors Should Look At Whisky As Passion Commodity

    July 16, 2024
    Most Popular

    JACKSON HEWETT: China trade ties could go beyond basic commodities … premium products with high margins

    July 11, 2025

    North Walsham property withwraparound gardens for sale

    July 3, 2025

    3 Big Shifts From PYMNTS’ Embedded Finance and BaaS Report

    July 26, 2024
    Editor's Picks

    le gouverneur de la Banque de France tacle le président de la Fed

    April 30, 2025

    Want $300 in Dividends Every Month? Invest $20,000 in Each of These 3 Stocks

    October 24, 2024

    Les prix du gaz naturel européen augmentent en raison des inquiétudes concernant l’approvisionnement Par Investing.com

    January 23, 2025
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.