Berrys Broadcast 16 Jan 2012. Marcus and Andrew discuss HS2 and recent RICS reports
Marcus and I review the headlines for HS2 and the latest RICS Market Surveys for the residential and commercial property markets.
The announcements last week were followed by details of the changes to the compensation schemes and the route. For more detail on last week's HS2 announcement see the previous posts or Audioboo.
The RICS Market Surveys are one of the best sources for finding the underlying sentiment of those involved in the various markets. They are not indices in that they are not based on raw numerical data but balance of opinions. The recent residential and commercial market surveys show the markets are still suffering- no surprise there- but that there are signs of life.
The Land Registry data set is based on raw numerical data and the Northants figures for the last twelve months show that the volume of sales has started to rise but that average sales prices are down 2% year on year. Sales are happening but buyers are not going mad with their offers and for those able to get loan finance, I have seen reports that the cost of loans compared to take home pay is at the lowest percentage since 1998.
The commercial market survey points to another tough year with expectations of the majority being of negative price and rental growth. Again, this is general and there is activity in the market but those looking to buy or rent are in a strong position outside the rarified air of prime property and they are likely to negotiate hard for the best price #Berrys #HS2 #residential #RICS #Towcester