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Top related persons:
RICS - 2 Tarrant Parsons - 2 William Schomberg - 2 Henry Nicholls - 1 Parsons - 1 Travis Perkins - 1 Kylie MacLellan - 1 Liz Truss's - 1
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London Britain April's Halifax
Top related orgs:
Royal Institution - 2 Chartered Surveyors - 2 Thomson - 2 REUTERS - 1 Bank - 1 Bank of England - 1 Nationwide - 1 Nationwide Building Society - 1

Search resuls for: "Tarrant Parsons"


3 mentions found


☆ UK housing market challenging but rate pause offers hope -RICS
  + stars: | 2023-10-11 | by ( ) www.reuters.com   time to read: +2 min
The Royal Institution of Chartered Surveyors (RICS) house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, edged down to -69 after August's sharp drop to -68. Echoing other gauges of British house prices, RICS' latest figure was the weakest since February 2009 and was below the median forecast of -63 in a Reuters poll of economists. Britain's housing market boomed during the coronavirus pandemic as demand for homes with more space surged, but it has been a victim of the BoE's run of 14 interest rate hikes, which began in December 2021. "Although the decision to pause monetary policy tightening a few weeks ago provided a glimmer of relief for the market, interest rates are likely now set to remain on hold for a prolonged period," Parsons said. The weak state of the housing market has hurt companies such as building materials supplier Travis Perkins (TPK.L), which on Wednesday downgraded its annual profit forecast by as much as 27%.
Persons: Henry Nicholls, RICS, Tarrant Parsons, Parsons, Travis Perkins, William Schomberg, Kylie MacLellan Organizations: REUTERS, Bank, Royal Institution, Chartered Surveyors, Thomson Locations: London, Britain
☆ UK housing market improves but slowdown seen as rates rise-RICS
  + stars: | 2023-06-07 | by ( Suban Abdulla | ) www.reuters.com   time to read: +2 min
RICS' house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, increased to -30 last month from -39 in April. However, analysts are forecasting another slowdown for the housing market with markets largely expecting the BoE's Bank Rate to peak at 5.5% later this year, up from 4.5% now. Britain's housing market staged a recovery earlier this year after former prime minister Liz Truss's "mini-budget" caused turmoil in financial markets in September and sent the cost of fixed mortgage rates sharply higher to above 6%. Britain's biggest mortgage lender, Halifax, on Wednesday said house prices dropped by 1.0% year-on-year in May, the first annual decline since 2012. Some mortgage lenders, including Halifax and Nationwide Building Society have ramped up their fixed mortgage rates in response to the rise in borrowing costs in financial markets.
Persons: RICS, Tarrant Parsons, Liz Truss's, BoE, Suban Abdulla, William Schomberg Organizations: Bank of England, Royal Institution, Chartered Surveyors, Nationwide, Nationwide Building Society, Thomson Locations: April's, Halifax
☆ UK house prices slide further but market pessimism eases: RICS
  + stars: | 2023-03-09 | by ( Suban Abdulla | ) www.reuters.com   time to read: +2 min
The Royal Institution of Chartered Surveyors (RICS) house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, fell to -48 in February from -46 the previous month - the lowest reading since April 2009. While Thursday's survey still showed the housing market firmly in decline, some measures indicated that a more stable picture was emerging in 2023, RICS said. Tarrant Parsons, senior economist at RICS, said he expected housing market activity to remain subdued over the coming months. "Given the ongoing weakness in demand, house prices remain on a downward trajectory, and are expected to see further falls through the first half of the year at least," Parsons said. In contrast, another lender, Nationwide, last week said house prices dropped by the most in more than 10 years in February.
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