Cutting These 10 Everyday Expenses in 2014 Will Save You $8,844
How to Perfectly Plan Your Divorce to Protect Your Assets
PNC Bank Review – Overview of PNC Bank Accounts, Loans and More
Here’s Why Bank of America Just Closed Your Credit Card Without Telling You
2014 Academy Award Statue Valued at Just Under $400
Why You Could Start Seeing Your Credit Score on Your Credit Card Bills
How to Host Your Academy Awards Viewing Party on a Budget
Warren Buffett Reveals His No. 1 Investment Strategy That Anyone Can Follow
Your ATM’s OS is a Decade Old: Here’s Why Banks Are Scrambling to Update It
What You Need to Know About Obama’s $3.9 Trillion 2015 Budget
Discover What a Discover Bank Online Savings Account Can Do For You
4 Tips to Cut Your Monthly Bank Fees
Here’s Why One Analyst Says Bank Stocks Are Going to Double
How Ben Bernanke Earned $250,000 in 40 Minutes
Visa and MasterCard Join Forces to Protect Your Card from Hackers
Housing market 'at three-year high', says RICS survey
Activity in the UK housing market has hit a three-year high, surveyors report, supporting hopes of a revival that would help the economic recovery.

Chartered surveyors handled an average of 17.4 home sales over the last three months, according to the latest monthly survey by industry body RICS. That was the highest number reported since March 2010 and meant sales rates have been rising for three consecutive months.

Surveyors also said demand improved, as a net balance of 11pc reported rises in enquiries from new buyers, compared with those who reported a fall. This marked the strongest reading since October, after a subdued start to the year. Researchers speculated this could be due to the improving affordability of mortgages.

Peter Bolton King, a director at RICS, said: “A buoyant, healthy property market is central to economic recovery and, while these are still very much early signs, it is encouraging that sales are beginning to pick up. The increase in potential buyers getting out there and viewing property is particularly encouraging.”

The Government’s Funding for Lending scheme, launched last August to give banks access to cheap finance, has been cited by lenders as a factor pushing down on bank funding costs and helping to reduce interest rates for customers.

House prices were more sluggish than sales, according to the RICS survey, with respondents reporting that prices were roughly flat in March. RICS said the survey pointed to house prices now having been relatively stable across the UK for the past six months.

Surveyors were confident that sales would rise further over the coming quarter, the report showed, however.

Mortgage rates are about to drop further over the next three months, according to a Bank of England survey released last week, while measures unveiled in the Budget are expected to offer further support for the market.

The are concerns in some quarters that the Chancellor risks supporting a "bubble" in prices through his Help to Buy push, which will massively expand the mortgage guarantee and shared equity schemes available to would-be buyers.

The surveyors polled for this monthly survey also act as estate agents, meaning they have more insight into the market.

The results came after a separate study showed total household wealth in the UK has passed the £7 trillion mark for the first time, despite the tough economy.

Net wealth, which includes the value of residential buildings and other assets, minus outstanding debts, was estimated at £7.05 trillion for the end of 2012, by Lloyds TSB Private Banking. That represented a £2.71 trillion increase over the past decade, or around £86,000 per household, most of that taking place during the "boom" years.

Within that, housing wealth - the value of housing less outstanding mortgages - increased by £1 trillion over the past decade as property values rose faster than mortgage debt ballooned.

The figures were not adjusted for inflation, but Lloyds said household wealth had grown at a faster rate (62pc over the period) than incomes (44pc) or headline price rises (29pc).

Hey Ladies: Don’t Miss Out on the Broke Boyfriend Tax Exemption
3 Ways to Fix Your Finances in One Hour for Daylight Saving Time
IRS Reports This Year’s Average Tax Refund is $3,034
How to Start Saving Money for Your Baby’s College Education
How to Find Free Tax Preparation in Your City
IRS Wants to Pay You $25,000 for Saving Your Tax Return
5 Secrets Your Bank Doesn’t Want You to Know
How to Handle the 5 Most Awkward Money Situations
4 Tips to Cut Your Monthly Phone and Cable Bills
Stop Wasting Money Because You Won’t Admit You’re Old
Amazon Prime Price Hike: Is It Worth It?
10 Tips for Winning Your March Madness Bracket and Some Extra Cash
I Lost My W-2! What Should I Do?
4 Cheap, Fun Ways to Celebrate St. Patrick’s Day
What Four Leaf Clovers and Interest Rates Today Have in Common


Visit Statistics