It’s been another busy week at McAndrew Martin with the start of March putting a spring into everyone’s step.
We’ve continued where we left off in January and February with business increasing compared to the same time in 2015.
We’re looking forward to another good month ahead with demand for our expert surveys and wide range of property related services continuing to grow.
Creating ‘better’ places to live can substantially increase property prices, according to a new survey.
The Royal Institution of Chartered Surveyors (RICS) has released the findings in its new information paper, called ‘Placemaking and Value’.
RICS says that the term ‘placemaking’ is used to capture all of the factors which combine to create a good place in which to live or work. Evidence suggests that top of the list for people in the UK is a concept of ‘neighbourhood’. Proximity to local facilities and shops also ranks highly.
Home ownership has increased for the first time in a decade, according to the Government.
Its newly-published 2014/15 English Housing Survey has revealed that 5,000 more people were home owners than in the previous year.
This took the total to 14.3m but although the increase was small it is the first time since 2005 that the figure has risen.
It offers some indication that the recovery is still on track, and that measures to boost home ownership and affordability may be beginning to make an impact.
The Royal Institution of Chartered Surveyors' (RICS) latest UK Residential Market Survey has shown a surge in new instructions in January.
It has pinpointed a rush of buy-to-let investors as among the causes for the rise, with many keen to get into the market ahead of the stamp duty hike in April.
We’ve seen the same increase in demand for our property related services at the start of this year compared with 2015, especially for surveys.
New figures have shown strong mortgage lending in 2015 despite a shortage in properties.
The Council of Mortgage Lenders (CML) said that homeowners borrowed £220.3bn last year. That was a rise of 8% on 2014 and the highest since 2008's total of £247.8bn.
However, it is still far below the £356bn at the height of the pre-recession property market boom in 2007.
Record low interest rates, rising wages, competitive mortgage deals and falling unemployment are among the factors credited with the increase.
UNEMPLOYMENT has dropped to its lowest level for nearly 10 years, according to new figures from the Office for National Statistics (ONS).
The number of people out of work fell by 110,000 to 1.71 million between August and October.
That is the lowest for a three month period since November 2005 to January 2006.
We’re among the companies to have employed staff recently as part of our ongoing recruitment drive.
Earlier in the Autumn we welcomed our new apprentice Kayleigh Munn as a junior architect and computer aided design (CAD) technician.
We’ve had a flying start to December and have never been busier heading into the festive period.
There’s been no sign of the traditional Christmas slowdown appearing just yet as demand remains strong for our property related services, especially for surveys.
The Bank of England kept interest rates at their record six year low of 0.5% again yesterday in a move which will be welcomed by househunters and first time buyers although perhaps not so much by savers.
In more good news the International Monetary Fund (IMF) today described the UK’s economic growth as ‘strong’.
With the Bank of England set for its monthly meeting to decide interest rates tomorrow, the property market remains a hot topic of debate.
The latest house price survey from Halifax released yesterday has shown that the market remains strong.
It said that prices rose 9% in November compared to the year before although the pace of rises was slowing on a monthly and quarterly basis.
The average house price is now £204,552, according to the Halifax.
With the economic recovery continuing, unemployment falling and wages rising, property is still very much in demand.
What’s your bet for the timing of the long-predicted interest rate rise?
Many experts have pushed back their predication to as far back as 2017, following the latest reports from the Bank of England.
Most commentators were expecting an increase next spring or summer (2016) but with inflation set to remain low there is no immediate rush to push rates up.
With the Bank’s policy of giving forward guidance seemingly in tatters, it could be anyone’s guess when rates will start to creep up.
Soaring figures for the services sector published today have brightened up the economic outlook.
The new Markit/CIPS service sector purchasing managers' index (PMI) showed a rise to 54.9 in October from the previous month's figure of 53.3.
Any figure above 50 indicates growth in the sector.
The index is closely watched by politicians and analysts. It was first time in four months that the growth rate improved.
The survey also showed that jobs growth reached a five-month high among services companies.