Rics comments on ’stabilised’ property market
The Royal Institution of Chartered Surveyors (Rics) has commented on Nationwide Building Society's recent housing figures, saying there are signs that the property market has stabilised.
According to the research, the average value of a property in the UK stood at £154,016 in May - a 1.2 per cent increase on April's figure of £151,861.
Rics indicated that this boost in prices, which may ultimately be good news for homeowners with mortgages for professionals, was in line with its sales-to-stock ratio findings.
It is "historically a good lead indicator of turning points in house price inflation", the chartered surveyor group stated.
Despite the upturn in property prices, as well as a study by the National Association of Estate Agents which showed confidence had returned to the market in April, Rics has urged the industry to be cautious.
Indeed, like Nationwide, the organisation thinks conclusions about the recovery of the market would be premature.
To book your free initial consultation with mortgages for professionals click here.
According to the research, the average value of a property in the UK stood at £154,016 in May - a 1.2 per cent increase on April's figure of £151,861.
Rics indicated that this boost in prices, which may ultimately be good news for homeowners with mortgages for professionals, was in line with its sales-to-stock ratio findings.
It is "historically a good lead indicator of turning points in house price inflation", the chartered surveyor group stated.
Despite the upturn in property prices, as well as a study by the National Association of Estate Agents which showed confidence had returned to the market in April, Rics has urged the industry to be cautious.
Indeed, like Nationwide, the organisation thinks conclusions about the recovery of the market would be premature.
To book your free initial consultation with mortgages for professionals click here.
