House Price Rise
With the cost-of-living crisis on the rise combined with the shortage of properties in the UK, house prices have increased and continue to rise. Nationwide Building Society show that property prices have rose by 14.3% in the last year.
The Royal Institution of Chartered Surveyors (RICS) conducted a survey which highlighted that 17% of their respondents have seen an increase in new buyer enquiries over the last 6 months despite interest rates rising.
Something to take into consideration is the estate agent’s market appraisal compared to the surveyor’s valuation price. Chancellors have highlighted that a market appraisal is just a recommendation and estimated price whereas a valuation is completed by registered valuer from the Royal Institution of Chartered Surveyors (RICS). The valuation looks at the structure of the property assessing the safety and highlighting any repairs that may need to be made.
Contact us to get your valuation booked in.
