UK Housing Market

RICS - UK housing marketThe latest RICS Residential Survey has revealed the following regarding the UK housing market:

There is an increasingly mixed picture across the UK housing market, according to the August 2017, UK Residential Market Survey. Although the headline level shows a return to growth, sentiment is less positive in prime central London and to a lesser extent the wider South East, alongside the North and East Anglia.

UK Housing Market: survey in brief

  • Mixed regional picture, with negative trend in prime central London in particular.
  • Solid growth in many regions, including Northern Ireland, North West, South West and Scotland.
  • National sales have not seen any growth since November 2016.

RICS press release issued: 14 September 2017. Visit Rics.org for further information.

 

RMA Surveyors are members of, registered with and regulated by the Royal Institution of Chartered Surveyors (RICS) to ensure we maintain high professional standards. If you are looking for professional advise regarding building surveys, party wall matters or dilapidations, contact RMA Surveyors on 01635 579 208 or complete the enquiry form.

RMA Surveyors reports RICS latest survey

RMA Surveyors reports RICS Residential SurveyRMA Surveyors, Berkshire, have been reading the latest residential news from the Royal Institution of Chartered Surveyors (RICS).

The RICS UK Residential Market Survey for September 2016 states that ‘confidence is starting to recover following the immediate reaction to the EU Referendum, as the UK residential market experiences a slight upturn in August’.

In brief it highlights that:

  • House price rises regain some momentum
  • Sales hold steady after four successive monthly falls
  • Buyer enquiries and sales instructions continue to slip – but at a greatly reduced pace.

Click to download the full RICS UK Residential Market Survey, Sept 2016.

RMA Surveyors Ltd

As chartered surveyors we continue to be chosen for our professional services with regards to Homebuyer Reports and Building Surveys, Party Wall Matters and Project management work.

If you’re in need of the services of RMA Surveyors, please contact us on 01635 579208 or complete the enquiry form.

RICS Residential Survey

RMA Surveyors Ltd, Newbury, have been reading the latest on the RICS Residential Market Survey (April 2016) with interest.

RResidential surveyICS Residential Report Highlights

– Demand from buyers drops for the first time since March 2015
– Prices continue to rise due to continued lack of supply
– Long term outlook shows prices continuing to rise across the UK

 

It states that the lack of supply will continue to push up UK house prices despite short term uncertainty.  You can download the full UK Residential Market Survey for further reading.

Residential Survey Advice

As chartered surveyors, RMA Surveyors can undertake a building survey or Homebuyers Report on a property to help you make a reasoned and informed decision regarding a property purchase.

If you’re looking for some professional advice regarding a property purchase in Berkshire, please contact RMA Surveyors Ltd on 01635 579 208 or complete the Contact Us form and we’ll be in touch.

 

The Party Wall etc. Act 1996 amendment

Party Wall etc Act 1996On April 06 2016, the first amendment to The Party Wall etc. Act came into force, since it was enacted in 1996.

The Party Wall etc. Act 1996 (Electronic Communications) Order 2016 was approved by the Department for Communities and Local Government on 10th March 2016.

What Amendment has been made to the Party Wall etc. Act?

The Order amends section 15 of the Party Wall etc. Act 1996, which is in relation to the service of notices. Previously legislation allowed for notices and documents to be served or given only in person or by post. This amendment will mean that notices and documents pursuant to the provisions of the Act may be achieved by electronic communications, provided that the intended recipient has stated a willingness to receive them by those means.

The new section 15 (1a&c) states that ‘a notice or other document required or authorised to be served under this Act may also be served on a person (“the recipient”) by means of an electronic communication, but only if— (a) the recipient has stated a willingness to receive the notice or document by means of an electronic communication; and (c) the notice or document was transmitted to an electronic address specified by the recipient.’

 

A Party Wall usually separates buildings belonging to different owners, but could include garden walls built astride a boundary (known as party fence walls). The Act is designed to avoid and minimise disputes. It makes sure property owners notify adjoining owners in advance of proposed works. It’s important to remember that notice should be served even if works are being undertaken only to your side of a wall.

If you need advice on Party Wall matters, please contact RMA Surveyors.  We are members of The Faculty of Party Wall Surveyors and provide surveying and advice in compliance with The Party Wall etc. Act 1996.  We act on behalf of building owners and adjoining owners, as well as agreed surveyors for both parties. Call us on 01635 579208 or complete the enquiry form.

 

Party Wall Notice

Being unaware of a duty to serve Party Wall Notice under The Party Wall etc. Act 1996 is not a defence. Some people do not factor in the costs of compliance with The Party Wall etc. Act 1996 before they commence works. Some choose to ignore the legislation, in the belief they are saving themselves time and money. This incorrect course of action leads to delays to their project, neighbourly dispute, possible court action and associated costs.

Party Wall Notice will prevent court action

The Requirement For Party Wall Notice

The Party Wall etc. Act 1996 requires Building Owners to serve relevant party wall notice to Adjoining Owners up to 2 months before notifiable works commence. When party wall notice is not served and it can cause friction between neighbours. In the worst case scenario where works have begun Adjoining Owners can apply to the Court and gain an injunction against the works. There are upfront costs for doing this, which are usually recoverable from a Building Owner. What Building Owners can also overlook by neglecting to serve notice is that certain rights granted by the Act are also not invoked (such as access in their neighbour’s land, to undertake notifiable works).

In many cases serving party wall notice is simple. By notifying a neighbour that works are going ahead there is less likelihood of a dispute occurring. Issuing notice/s with a polite letter explaining what the works are is far cheaper and easier than a court injunction and costs, then living with the resulting bad feeling.

Ignorance Is No Defence

The Party Wall etc. Act 1996 is now well established legislation. There is no good reason to ignore it. The courts will invariably find against anyone who does, either wilfully or through genuine ignorance. The cost of not serving a valid party wall notice may prove to be the costliest oversight of the whole project. The adage of Ignorantia iuris nocet applies. Not knowing the law is harmful.

We Can Help

If you are having works undertaken to your property that is likely to affect your neighbour’s property contact RMA Surveyors Ltd and we will be pleased to assist you serving the correct notice to avoid future and costly disputes. RMA Surveyors Ltd are members of The Faculty of Party Wall Surveyors Please contact us and we will be happy to help.

RICS Residential Market Survey

ricsRMA Surveyors Ltd in Newbury, Berkshire have been catching up on the latest RICS Residential Survey.

It states that residential sales have increased, despite the continued lack of stock and highlights the following three points:

  • Agreed sales rise at the fastest rate across the UK since May 2014.
  • Prices increase further across all parts of the UK.
  • New buyer demand continues to outweigh instructions to sell.

You can download the UK Residential Market Survey for further reading.

If you’re looking for some professional advice regarding a property purchase in Berkshire, please contact RMA Surveyors Ltd on 01635 579 208 or complete the Contact Us form and we’ll be in touch.

RICS Residential Market Survey

ricsRMA Surveyors Ltd, Newbury have been reading the latest update from RICS, regarding its UK Residential Market Survey.

It states that supply and demand varied across UK in January and 49% more London surveyors saw prices fall in January 2015.  It continues, stating that Scotland and Northern Ireland’s housing market outperformed the rest of the UK in January, with more buyer enquiries, stronger price growth and higher confidence in the outlook.  However, the national results, which are based on England and Wales only, continue to signal a cooling market and price growth has all but levelled off with just 2% more surveyors expecting prices to increase over the next three months (its slowest pace since May 2013).

You can download the January 2015 RICS UK Residential Market Survey here.

If you’re looking for some professional advice regarding a property purchase in Berkshire, please contact RMA Surveyors Ltd on 01635 579 208 or complete the Contact Us form and we’ll be in touch.

RICS: ‘Stamp Duty Optimisim’

ricsRMA Surveyors Ltd, Newbury, has been taking a read of the RICS UK Residential Market survey for December 2014.

In a recent press release, issued by RICS, it states that: December 2014 saw a sluggish trend in new buyer demand and a tail-off in house price growth. However, stamp duty reforms are still expected to support market activity according to our latest UK Residential Market Survey.

It goes onto state in its analysis that: ‘The number of potential new house buyers dipped for the sixth consecutive month in December and price growth fell to its slowest pace since May 2013’. However, the Institution is optimistic stating that ‘the changes to stamp duty are expected to provide a timely boost to activity in the housing market across most of the country but there remain significant challenges particularly for first time buyers seeking to take an initial step onto the property ladder.’

Read the full press release and analysis here.

If you’re looking to purchase a property and are in need of some advice from a Chartered Building Surveyor in Berkshire, please get in touch on 01635 579208 or fill out our Contact Us form. We’d be happy to assist  in providing a quote for a Homebuyers Report or Building Survey.

 

Stamp Duty Reforms

RMA_Logo RGBRMA Surveyors Ltd, Newbury, has been reading the latest on Stamp Duty.

As of today (4th December 2014), the Government has introduced Stamp Duty reforms on residential properties. Stating that ‘Stamp duty will be cut for 98% of people who pay it. If you’re buying a home for less than £937,500, you will pay less stamp duty, or the same’.

The change applies to you if you are buying a home in the UK for over £125,000.

Under the new rules, homebuyers will only pay the rate of tax on the part of the property price within each tax band. The following is given as an example:

Under the old rules, you would have paid tax at a single rate on the entire property price. Now you will only pay the rate of tax on the part of the property price within each tax band – like income tax. Under the old rules if you bought a house for £185,000, you would have had to pay 1% tax on the full amount – a total of £1,850. Under the new rules, for the same property you’ll pay nothing on the first £125,000 and 2% on the remaining £60,000. This works out as £1,200, a saving of £650.’

For further information, click to read the Government information sheet.

If you’re making a property purchase and require a Homebuyers Report or Building Survey, get in touch with RMA Surveyors Ltd for a quote.

3D Printed Buildings

3D-printed-homesAt RMA Surveyors Ltd, Newbury, we’re always looking to see what the future will bring in terms of building technology.

We’ve been interested to see how 3D printing has been adopted by the construction industry. In particular this collaboration between a leading architecture firm (Foster + Partners) with a concrete company (Skanska) to develop a commercial technique for creating 3D printed buildings.

Click here for further reading and to view the pictures of ten 3D printed houses, which were built in 24 hours. This technology will change the face of construction as we currently know it. It will also be interesting to see what defects may be thrown up by such technology in the future.

To see the robot that prints these 3D printed buildings in action, click here.