uk rics report the party is not over
News Posted On: 13 October 2009
With the conference season over, it seems party leaders have done nothing to unsettle international confidence. The credit ratings agency Moody's Investors Service, in an interview with Reuters on Monday, indicated that past 3 weeks of political posturing had reinforced Britain's triple-A rating.
As the 175-billion-pound rescue package by the Bank of England feeds into the economy, Britain is beginning to emerge from the steepest recession in decades.
While analysts believe the Bank is close to withdrawing quantitative easing (QE) opinion is divided over exactly when. Gordon Brown, speaking to a business audience this week showed he was wary of reducing QE too soon. Then again he would say that with a general election looming.
Meanwhile the stimulus package continues to feed through to house price recovery.
The latest Royal Institution of Chartered Surveyors survey for England and Wales released on Tuesday showed house prices rising at their fastest rate since the credit crunch began more than two years ago.
22 percent more RICS surveyors reported rises than falls in the last quarter, the highest reading since the credit crunch began.
This reinforces recent reports by the major mortgage lenders showing the falls of last year are being reversed by record low interest rates and a continuing tight supply of property for sale.
The RICS survey showed demand continues to outstrip supply in the real estate market, helping the key forward indicator ratio of sales versus inventory to rise for a ninth consecutive month to its highest level since December 2007. Unsurprisingly the majority of surveyors questioned expected the current upward trend to continue through the next quarter.
View Property in England
View overseas property for sale
Back to news articles for this country
Latest Related News Articles in England
Global House Prices Being Pulled Down by Euro Crisis
2011-12-20
According to the latest release of the Knight Frank global house price index, the world's house pric.....
UK Property Prices Edge up Slightly in November
2011-12-01
Prices of residential property increased by 0.4% in November and are 1.6% higher than a year ago, ac.....
Thousands of UK FTBs Could Be Trapped in Their Homes
2011-11-17
A new report from HSBC has pointed out that up to 360,000 of 2007's first time buyers could be trapp.....
UK House Prices Up for First Time in 3 Months says Halifax
2011-11-10
Data just released by the Halifax show property prices in the UK increased in October for the first .....
UK FTBs Should Head North Research Shows
2011-09-29
The average age of first-time buyer in the UK is now 29, but according to research from the Halifax .....
Strong Demand Foretold in UK Buy to Let Sector
2011-09-26
A survey by property investment company Assetz has found that more than 3 quarters (76.8%) of UK inv.....
UK Lending Still Tight to First Time Buyers and Low Earners
2011-08-17
A new report has found that despite record low interest rates and an increase in 90% mortgages, lend.....
UK Property Market Stuck in Rut till 2020 says PWC
2011-07-13
UK house prices will be lucky to have returned to their pre-bust levels by 2020 says Pricewaterhouse.....
Investor Appetite Grows for Student Accommodation Investment
2011-05-25
If the property market in the UK, and the rest of the world for that matter, was nice and straight f.....
UK House Prices Well into Double Dip Terrain
2011-05-09
UK house prices fell at the fastest annual rate since October 2009 in April this year, putting us we.....