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.

Building Survey – How long will it take?

Building surveyHow long will the building survey take? Is a common question that we are asked during most enquiries. 

In short, the time taken on a building survey depends on the property. The size of the property, the age of the property, its construction, the defects we may find and the extent of furnishings and carpets which can determine our access, are all factors to take into consideration.

 

 

However, we’ve put together a little guide below to give you an indication:

  • Homebuyers Report – 2 bedroom, recently built flat: 1.5-2 hours
  • Homebuyers Report – 3 bedroom, semi-detached house: 2-3 hours
  • Homebuyers Report/ Building survey – 4 bedroom detached house: 4-5 hours
  • Building Survey – 5 bedroom, detached house with garage: 5-6 hours
  • Building Survey – 5 bedroom, listed building with outhouse & garage: 6+ hours

At RMA Surveyors, we aim to deliver all our reports within 5 working days of surveying the property, if not before.

Take a look at our Property Surveys page to see what would suit your requirements.

If you’re in need of a Building Survey or Homebuyers Report, contact RMA Surveyors on 01635 579208.

We can advise you on whether you require a Homebuyers Report or Building Survey and provide you with a quote for our services.

RMA Surveyors Ltd are based in Newbury, Berkshire. We provide a wide range of building surveying services in Newbury, West Berkshire and the surrounding areas. Get in touch for professional advice. We are an independent company and take pride in the fact that we provide honest, impartial and credible advice to our clients. We are members of, registered with and regulated by the Royal Institution of Chartered Surveyors (RICS) to ensure we maintain high professional standards.

 

 

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.

Homebuyers Report Uncovers Serious Drain Defect

Homebuyers report discovers partially blocked drain

Drain partially blocked by tree roots

While undertaking a Homebuyers Survey on a four bedroom detached house in Highclere, RMA Surveyors, Newbury, highlighted a list of defects where further investigation would be required.

Notably, we found evidence of a partial blockage to the drain, believed to be caused by tree roots. We reported this back to our client in the Homebuyer Report.

We recommended the client commission a CCTV survey of the drain runs, as this would provide a clear diagnosis of any problem.

The client had the drains checked by a drainage specialist, who discovered there were bush and tree roots present in all of the drain runs.

As a consequence, insurers would only provide buildings insurance if subsidence was specifically excluded from the policy. This was a big risk for our client as we also noted some evidence of subsidence to a subsidiary structure at the premises within the same survey. The insurers stipulated that all drain repairs must be undertaken and a further structural survey be carried out prior to any policy being agreed.

As a result, the Mortgage company refused to lend and their mortgage offer was withdrawn. This defect was not picked up by the mortgage valuation survey as these types of survey are very limited in scope.

Why Get a Homebuyers Report?

By commissioning a Homebuyers Report, the client saved valuable time and considerable future expense and inconvenience.

It is important to remember that a mortgage valuation is not a survey. It is undertaken on behalf of the lender, not the purchaser and only serves to determine whether or not the property provides enough security for the bank to lend upon.

This case proves that a Homebuyers Survey and Report does save our client’s money. A property purchase is one of the biggest investments you will make, and commissioning a Homebuyers Report or Building Survey will provide peace of mind that the investment is a solid one.

If you’re thinking of purchasing a property and require a Homebuyers Report or Building Survey, please get in touch with RMA Surveyors Ltd for a quote. Call 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.

 

Building Survey vs Homebuyer Report

House SearchBased in Berkshire, RMA Surveyors Ltd have recently surveyed properties in Newbury, Reading, Wokingham and Windsor.

When making an initial enquiry for a survey on a property, we are often asked what the difference is between a Homebuyer Report and a Building Survey. Our simple response is that while both involve a survey of the property, a Homebuyer Report details all the essential elements of a building but goes into less detail than a Building Survey.

If you would like to read more about the details of each report, take a look at our Property Surveys page.

As chartered surveyors, RMA Surveyors Ltd always provides professional advice and will recommend which type of survey best suits the proposed property. By analysing the age, type (e.g. semi-detached or bungalow) and whether there are any extensions to the property, we can determine which survey would best outline the condition of the building.

If you are unsure which type of survey would be most suitable for the type of property that you are intending to purchase, please contact us and we shall be happy to discuss this with you.

For a Homebuyer Report or Building Survey quote, please call RMA Surveyors Ltd on 01635 579208 or complete the enquiry form.

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.

HBR or Building Survey?

House SearchWe recently undertook a Homebuyer Report within Thatcham on a two bedroom bungalow.

When making an enquiry, people often ask us what the difference is between a Homebuyer Report and a Building Survey. Our simple response is that while both involve a survey of the property, a Homebuyer Report details all the essential elements of a building but goes into less detail than a Building Survey.

If you would like to read more about the details of each report, take a look at our Property Surveys page.

The client, in this case, was uncertain as to which type of report they should instruct and asked for our advice. We were able to undertake a quick assessment of the building, its age and type and advised that a Homebuyer Report would be sufficient for a structure of this nature.

When we undertook the survey we were able to report that there was a roof leak and damp to the ground floor of the property, we also highlighted a number of issues externally. As a result of our report, the client made the decision that the liability was too great for the price they had agreed and decided to withdraw from the sale.

If you are unsure which type of survey would be most suitable for the type of property that you are intending to purchase, please contact us and we shall be happy to discuss this with you.

For a Homebuyer Report or Building Survey quote, please call 01635 579208 or complete the enquiry form.

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.