UK housing emitting 'ominous' signals amid market imbalances
London
BRITAIN'S housing shortage and continued growth in prices mean the property market is showing increasing signs of dysfunction, according to a report from the Royal Institution of Chartered Surveyors (RICS).
While the general election had an impact on activity in May, damping buyer demand and new sellers coming to the market, RICS used its latest monthly report to highlight broader and more damaging risks. That includes the dearth of homes for sale, which has pushed up values in recent years, cutting off many potential first-time buyers. RICS chief economist Simon Rubinsohn said the report shows the issue of affordability may even worsen.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
HDB resale prices up 1.8% in Q1; rental market slows down
Singapore’s private home prices up 1.4% in Q1, rents drop by 1.9%: URA
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Singapore office rents in central region fall 1.7 per cent in Q1 over Q4: URA
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year