LONDON (dpa-AFX) - UK house prices climbed notably in April as the increase in demand increasingly outstripped supply, monthly survey results from the Royal Institution of Chartered Surveyors,
Tightening supply increasing house price growth rate: Rics
By Gary Adams 13
th May 2021 10:06 am
Demand for housing is rapidly overtaking supply, causing house price growth to ramp up, says the Royal Institution of Chartered Surveyors.
A net balance of 44% of respondents of the Rics survey for April saw enquiries from new buyers increase, and for the first time in 2021, demand was positive in every region of the UK.
While the headline net balance above is little changed from that of March – 43% – dwindling listings was named as the main cause of concern for respondents.
Here, there was a net balance of -4% regarding new instructions from owners looking to sell. This compares to a net balance of 21% in March.
The Royal Institution of Chartered Surveyors (RICS) UK Residential Market Survey for April 2021 has outlined that buyer demand is remaining firm, but the flow of new listings has lost momentum.
RICS found hat a net balance of +44% of contributors to the survey cited a pick-up in new buyer demand during April, in line with the previous month, which saw a reading of +43%.
Newly agreed sales also rose over the month, evidenced by a net balance of +34% of respondents noting an increase, but this was down month-on-month from +48%.
Looking ahead, a net balance of +23% of respondents said their near-term sales expectations were comfortably positive at the national level; over the next 12 months, this proportion cooled to just +12%.
UK Builders to Construct Bigger Homes as More People Work From Home
British house builders are set to construct more detached and semi-detached homes, as the demand grows for properties with space to work from home, an industry body has said.
The National House Building Council (NHBC), a warranty and insurance provider, said the housing sector has “bounced back” following the disruption caused by the COVID-19 pandemic, with the number of new home build registrations up by 10 percent in the first quarter of 2021 compared with a year earlier.
Across the UK, 36,863 new homes were registered with NHBC in the first quarter of 2021 compared with 33,388 in the same period last year.
Major European Markets Close Mixed
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets ended mixed on Thursday as investors stayed cautious and refrained from making significant moves amid continued concerns about inflation and speculation that the Federal Reserve will likely tighten its monetary policy sooner than expected.
Data showing a bigger than expected drop in U.S. jobless claims last week aided sentiment and pulled the market out of lower levels. Investors were also reacting to the latest batch of earnings reports and other corporate announcements.
Energy stocks tumbled after oil prices dropped amid worries about outlook for energy demand. Mining shares fell following a drop in iron ore prices.