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  • Property Prices

    RICS: Outlook for market worst for 20 years



    The Royal Institution of Chartered Surveyors says the housing market outlook over the next three months is the worst for 20 years.

    A net balance of 28 per cent of RICS members expect sales to fall in the next three months.

    This is the worst prediction since RICS records started in October 1998 and the blame is put on Brexit.

    Sales expectations for the next three months are now either flat, with no change predicted, or negative, indicating falling sales, across all parts of the UK, the latest study claims.

    Full/source story 

    I am sure amidst all this doom and gloom that some savvy investors are quietly getting on and making a fortune!

    Such interesting times.

    SEE ALSO  -          Rental market after Brexit?

    UP NEXT -              BrExit - impact on property market

    DON'T MISS -         Effects of Brexit on housing demand

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    And rental prices up and availability down:  

    Separate data from the property website Rightmove showed rent levels continuing to rise. Average asking rents in London hit an all-time high of £2,034 in the fourth quarter of 2018 as the number of available properties dwindled . Compared with a year earlier, the number of properties available to rent is down 22%.

    Rightmove is predicting that asking rents will rise 4% in London this year and by 3% outside the capital.

    UK house prices fall at fastest rate in six years on back of Brexit – Rics

    ​Well done George Wink

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    I cannot for the life of me think why this would happen Smile

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    The RICS is only confirming what many have been saying foe months. Another lot well behind the curve.

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    Love it! This means more for me to choose from!

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