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The Latest Breaking News from RICS

Eurozone falls into recession; US jobless claims jump; storm clouds over UK housing – business live

Eurozone economy shrank by 0.1% in the final quarter of last year, and the first three months of 2023, putting it into technical recession

The Guardian - UK

Stock of homes for sale picking up but ‘storm clouds are gathered’

May marked the strongest reading for new property listings since March 2021, the Royal Institution of Chartered Surveyors said.

The Independent UK

Northern Ireland house prices to head higher as market recovers composure

Agents in Northern Ireland are more positive than any other region of the UK

Birmingham Post

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More homes coming onto the market in Wales but number of new buyer enquiries fall

But correctly priced properties continue to sell

Birmingham Post

UK homeowners prefer ‘smaller, more energy-efficient’ homes, report claims

Buyer demand remains subdued in the face of relatively high borrowing costs, the Royal Institution of Chartered Surveyors says

The Independent UK

Buyers seeking smaller and more affordable homes, property professionals report

Buyer demand remains subdued in the face of relatively high borrowing costs, the Royal Institution of Chartered Surveyors said.

The Independent UK

Raft of headwinds keeps Northern Ireland construction sector under pressure

Workloads at construction firms have fallen for the fourth consecutive quarter

Birmingham Post

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Labour shortage hindering construction projects in Wales

Over 70% of chartered quantity surveyors in Wales said skills shortages are limiting the sector’s ability to take on more work

Birmingham Post

People on the move: key North East appointments and promotions

Companies and organisations featuring in this week's round-up include the North East England Chamber of Commerce, PD Ports and Artech Lighting

Birmingham Post

Welsh commercial property activity continues downward trajectory as investor and occupier demand falls

RICS has published its latest data for the first quarter of 2023

Birmingham Post

Rent prices rise in 'frenzied' market due to shortfall of properties

Tenant demand reached a five-month high. But the number of new landlords has been declining

Wales Online

Rent prices squeezed higher in ‘frenzied’ market while house sales sluggish

Tenant demand reached a five-month high but the supply of rental properties continues to decline, surveyors said.

The Independent UK

Northern Ireland housing market continues higher despite inflationary pressures

Lack of new supply underpins

Birmingham Post

Crypto bank Silvergate collapses; HS2 delayed; US jobless claims jump – as it happened

Rolling coverage of the latest economic and financial news, as crypto turmoil leads to an “‘orderly wind down’ and ‘voluntary liquidation’ of Silvergate bank

The Guardian - UK

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The Guardian - UK

UK house prices could be stabilising despite falls, say surveyors

Rics data for February shows improvement in new buyer inquiries and sales

The Independent UK

Demand from house hunters fell for tenth month in a row in February – surveyors

The majority of the feedback points to house sales being agreed within 5% of asking prices, the Royal Institution of Chartered Surveyors said.

The Conversation

Builders are making thumping profits by over-charging for new homes – new findings

Welcome to the UK, where affordable housing can often feel like an oxymoron. The average national house price is £294,000, but someone earning the average annual salary of £33,000 can expect to borrow no more than £140,000, leaving a considerable shortfall. The typical first-time buyer is aged 32 and pays…

The Guardian - UK

Deliveroo cutting 9% of staff; Bank of England governor pledges to get inflation down – as it happened

BoE governor Andrew Bailey has warned MPs that paying for public sector pay rises with borrowing could push up inflation

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news in one place.

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The Guardian - UK

UK property demand declines as house prices in England fall

Further slowdown likely amid interest rate rise and cost of living crisis, says surveyors’ body Rics

The Independent UK

UK housing prices and sales record fall as buyer inquiries drop

The Royal Institution of Chartered Surveyors said the overall tone of the feedback from property professionals remains subdued

Wales Online

House prices and sales fall as buyer inquiries drop

Property experts say the market is having to adjust to higher interest rates with new instructions staying on a downward trend

Insider UK

Demand and supply continue to soften in Scottish housing market

Latest surveyor survey show that new buyer demand fell through January

The Independent UK

House prices and sales fell in January as buyer inquiries dropped

The Royal Institution of Chartered Surveyors said the overall tone of the feedback from property professionals remains subdued.

The Guardian - UK

Why UK house prices could plunge by 20% after the latest interest rate hike

Property market has defied gravity for years but analysts say rising mortgage rates will mirror the 1980s price crash

Birmingham Post

Welsh housing market weakens as buyer demand expected to decline in 2023

House prices and sales in Wales continue to be on a downward trajectory

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