Breaking NewsGlobeSt.com will be offline for scheduled maintenance Friday Feb. 26 9 PM US EST to Saturday Feb. 27 6 AM EST. We apologize for the inconvenience.

 
X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Most contributors to the new Royal Institution of Chartered Surveyors survey report price rises of 2-5% over the three month period to April. The difference between those chartered surveyors reporting prices rising and those reporting prices falling was 63%, the highest figure since November 1999.

This continued rise in prices was fuelled by an on-going shortage of suitable properties coming on to the market. The average number of properties per surveyor was 60, a sharp fall from the 67 of last month’s survey, which in turn was itself the lowest level since 1979, underlining the acute shortage.

Completed sales fell back slightly this month. The average number of sales per surveyor dropped to 37, down one from last month. Despite this, sales are still at their strongest for 13 years.

Chartered surveyors contributing to the survey expect the upward movement of prices to continue. The difference between those expecting rises and those expecting falls is 75%, up 4% on last month.

RICS national housing spokesman, Ian Perry, said: “There would appear to be no end in sight to the rise in prices, although in some areas chartered surveyors are reporting overpricing is meeting resistance from buyers.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.