Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-The growth in the buy-to-let market over the last three years, as private investors look to property for positive returns while the stock market flounders, has helped underpin the UK residential market, according to the RICS.

In October 2000, just 8% of properties were sold to investors. But by August 2003 the figure had risen to 13%. But according to the RICS this suggests that first time buyers are being squeezed out by buy-to-let investors.

The steady rise in new buyers looking for houses continues, with 16 per cent more surveyors reporting a rise in buyer enquiries than a fall during August. The RICS says this trend is a reflection of stability in the employment market and low interest rates.

But while demand is rising, supply is falling: the number of properties on the market in August fell for the third consecutive month. As a result house prices are rising again: RICS members detected a slight rise in in August, the first increase since January this year.

RICS housing spokesman Jeremy Leaf said: “The summer months are traditionally quiet, so we expect to see an increase in activity as we come into the autumn following the start of the new school year. The national picture is one of quite modest house price rises for the first time this year, although the south is still trailing behind the north.”

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


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

Get More Information


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.