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Liz Truss's - 1 Simon Rubinsohn - 1 Rubinsohn - 1 Suban Abdulla - 1 David Milliken - 1
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Royal Institution - 1 Chartered Surveyors - 1 Bank of - 1 Financial - 1 Halifax - 1 Nationwide - 1 Thomson - 1

Search resuls for: "Simon Rubinsohn"


7 mentions found


☆ UK buyers retreat from housing market, further slowdown seen - RICS
  + stars: | 2023-07-12 | by ( Suban Abdulla | ) www.reuters.com   time to read: +2 min
LONDON, July 13 (Reuters) - Britain's housing market showed signs of a slowdown in June and property surveyors expect activity to remain subdued as higher borrowing costs hit new buyer enquiries, according to an industry survey on Thursday. The Royal Institution of Chartered Surveyors (RICS) said a net balance of -45 in a poll of its members reported a fall in new buyer enquiries last month, down from the -20 in May. Britain's housing market faces pressure from softer buyer demand and falling house prices against a backdrop of surging mortgage rates and the Bank of England's battle to tame stubborn inflation. Average two-year fixed mortgage rates hit a 15-year high earlier this week. British mortgage lender Halifax, last week said house prices fell by 2.6% year-on-year in June, the largest annual drop since 2011.
Persons: Liz Truss's, Simon Rubinsohn, Rubinsohn, Suban Abdulla, David Milliken Organizations: Royal Institution, Chartered Surveyors, Bank of, Financial, Halifax, Nationwide, Thomson
☆ British home-buyers, facing higher interest rates, retreat in April - RICS
  + stars: | 2023-05-10 | by ( Suban Abdulla | ) www.reuters.com   time to read: +2 min
LONDON, May 11 (Reuters) - British property surveyors reported a drop in demand in April as new buyers turned more cautious ahead of the Bank of England's latest expected interest rate increase, an industry survey showed on Thursday. The Royal Institution of Chartered Surveyors (RICS) said its measure of new buyer enquiries fell to a net balance of -37 in last month from -30 in March, the lowest since January. Simon Rubinsohn, chief economist at RICS, said the survey pointed to challenges in terms of sales and lettings. The net balance of agreed house sales across Britain fell slightly but respondents noted a pick-up in the number of properties on the market. Data from mortgage lender Halifax published on Tuesday showed house prices grew at the slowest annual pace in more than 10 years in April.
☆ UK housing market weakness continues, improvement on the horizon - RICS
  + stars: | 2023-04-12 | by ( Suban Abdulla | ) www.reuters.com   time to read: +2 min
RICS's gauges of buyer demand, sales, new listings and house prices were all in negative territory last month. However, its indicators looking ahead pointed to hints of stability in Britain's housing market in the coming 12 months. The sales expectations balance for 12 months' time rose to +1, its highest since March 2022. Mortgage lender Nationwide reported a 3.1% drop in house prices in the year to March - the fastest annual fall since July 2009 - while rival Halifax said prices grew 1.6% year-on-year. Its non-seasonally adjusted monthly tenant demand growth indicator hit a five-month high, with a net balance of +46.
☆ UK housing market hit by widest prices falls since 2009 - RICS
  + stars: | 2023-02-09 | by ( William Schomberg | ) www.reuters.com   time to read: +2 min
The Royal Institution of Chartered Surveyors (RICS) house price balance, which measures the gap between the percentage of surveyors seeing rises and falls in house prices, fell to -47, the lowest since April 2009, from -42 in December. Simon Rubinsohn, chief economist at RICS, said the overall mood of the market as measured by surveyors remained subdued. Other housing market measures have also recently shown a loss of momentum following the surge in demand seen during the coronavirus pandemic. A Reuters poll of economists and analysts in November predicted house prices would fall around 5% this year having surged by 28% since the start of the pandemic in 2020. RICS said the rental market continued to show strong interest from tenants with limited availability of stock.
☆ UK house prices end 2022 on a weaker note after pandemic boom
  + stars: | 2022-12-30 | by ( Muvija M | ) www.reuters.com   time to read: +3 min
The lender also said that the final month of 2022 saw prices record their worst run since 2008 on a monthly basis, falling 0.1% compared with November in their fourth consecutive monthly price fall. In annual terms, house price growth slowed to 2.8% in December from 4.4% in November, Nationwide said, compared with the 2.3% growth forecast in a Reuters poll. That has marked a slowdown from last year when price growth reached multi-year highs due to strong demand as people desired bigger homes more suited for remote working during the health crisis. NEW YEAR ACTIVITYEarlier in December, a survey by the Royal Institution of Chartered Surveyors (RICS) showed the most widespread house price falls in Britain since early in the pandemic last month. If sustained, this should feed through to mortgage rates and help improve the affordability position for potential buyers," he added.
☆ UK sees most widespread house price falls since May 2020: RICS
  + stars: | 2022-12-08 | by ( David Milliken | ) www.reuters.com   time to read: +2 min
The Royal Institution of Chartered Surveyors (RICS) said that its house price net balance - which measures the difference between the percentage of surveyors seeing rises and falls in house prices - sank to -25 in November. Price falls were particularly common in southeast and southwest England, while prices continued to rise modestly in Scotland and Northern Ireland. The RICS survey matches other measures of house price weakness from British mortgage lenders. Halifax reported on Wednesday that house prices recorded their biggest monthly drop since 2008 in November, falling by 2.8%, while Nationwide measured its biggest fall since June 2020. A Reuters poll of economists and property market analysts last month forecast house prices would drop around 5% next year, having risen about 24% since early 2020, according to official data.
☆ UK house price growth slows to weakest since July 2020 - RICS
  + stars: | 2022-10-12 | by ( William Schomberg | ) www.reuters.com   time to read: +3 min
The RICS house price balance - measuring the difference between the percentage of surveyors reporting price rises and those seeing a fall - fell sharply to +32 in September from +51 in August, signalling a slowdown in price growth. "Looking further out, the picture portrayed by the RICS survey has clearly shifted in a negative direction," he added. After booming during and after the COVID-19 lockdowns as home-owners sought bigger properties, Britain's housing market has cooled recently. Rival lender Nationwide says British house prices failed to rise in monthly terms for the first time since July 2021 in September. A recent cut to Britain's stamp duty tax on property purchases, part of finance minister Kwasi Kwarteng's package of tax cuts, was set to be outweighed by the rise in mortgage costs, RICS said.
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