Measures of buyer demand remain positive with house price growth appearing to gain traction.

The November 2024 RICS Residential Survey results remain consistent with a gentle up-trend across the market, with metrics on new buyer demand, new instructions and house prices all continuing to register readings in expansionary territory. Looking ahead, despite the rise in mortgage interest rates seen over recent weeks, respondents still foresee a modest improvement in sales activity over the near-term, albeit expectations have been scaled back somewhat compared to the previous iteration of the survey.

Headlines:

• New buyer enquiries data again points to a slight pick-up in demand, although sales appear to have levelled-off over the month

• National house price indicator continues to move higher

• Near-term outlook for activity moderately positive despite the recent rise in mortgage interest rates.

Sales market activity continues to rise steadily

The October 2024 RICS Residential Survey results continue to signal an improving market backdrop, evidenced by modestly positive readings once again being returned across all headline measures of activity. Furthermore, forward-looking indicators remain consistent with a further pick-up in sales volumes over near-term, although the rise in bond yields in recent weeks is likely to present something of a headwind as it feeds through into general lending conditions.

Headlines:

• Survey feedback capturing the recent trend in agreed sales and new buyer enquiries remains positive.

• Headline house price growth appears to be gradually gaining momentum.

• Expectations point to this brighter picture for activity being sustained over the near-term.

We're always striving to deliver exceptional service and we're always grateful to our clients who have taken the time to share their experiences. Take a look at three recent examples.

We're seeking a qualified Building/Residential Surveyor to join the firm on a part-time basis.

This role would suit professionals returning to work after a career break, seeking a better work-life balance or easing into retirement.

This position will involve conducting RICS Home Surveys Level 2 (Homebuyer Reports) and Level 3 (Building Surveys) alongside insurance-based reporting and defect analysis.

We don’t undertake mortgage valuations. However, we do provide a range of private valuation services.

This role will be based in Bishop's Stortford, Hertfordshire, covering the surrounding areas. The role will be a mix of site and office-based work along with home working if/as desired.

We're always striving to deliver exceptional service and we're so grateful to our clients who have taken the time to share their experiences.

Sales market activity continues to display a more positive trend.

The September 2024 RICS Residential Survey results point to a sustained improvement in market activity, with measures of demand, sales and new listings all continuing to return positive readings. Moreover, forward-looking sentiment is consistent with further modest growth in headline sales volumes over the coming months, while expectations for the year ahead are also firmly in expansionary territory.

Headlines:

• New buyer enquiries indicator remains in positive territory

• Number of sales agreed also improves, with near-term expectations pointing to further growth

• National house price indicator moves out of negative territory.

Spotlight - September 2024

This month we're taking a look at the role of the telescopic pole camera and how this is used to inspect high-level, often concealed, areas.

The UK Residential Market Survey is used by the government, the Bank of England and other key institutions, including the IMF, as an indicator of current and future conditions in UK residential sales and lettings. It is covered extensively in the media and is the leading source of market intelligence, highly regarded both by investors and across the industry.

We're always striving to deliver exceptional service and we're so grateful to our clients who have taken the time to share their positive experiences.

August 2024

The August spotlight is slightly different this month as Navah Consulting welcomed Jack Cottrell to the company.

Jack joins the company as a Trainee Surveyor assisting with inspections, valuations and day-to-day business activities.

Jack brings fresh perspectives and a passion for surveying, which aligns with our mission to deliver client-focused surveying services to our clients.

Starting on the Sava Residential Surveying and Valuation course later this month, Jack will be working towards a Level 6, degree-equivalent qualification overseen by the Awarding Body for the Built Environment (ABBE) (part of Birmingham City University).

What is the UK Residential Market Survey?

The UK Residential Market Survey is used by the government, the Bank of England and other key institutions, including the IMF, as an indicator of current and future conditions in UK residential sales and lettings. It is covered extensively in the media and is the leading source of market intelligence, highly regarded both by investors and across the industry.

July 2024

Navah Consulting were instructed by a homeowner to attend a residential property following a traffic collision whereby a car caused damage to their property.

The King’s Speech 2024 marks the detailed start of the new government’s legislative programme.

The UK Residential Market Survey is used by the government, the Bank of England and other key institutions, including the IMF, as an indicator of current and future conditions in UK residential sales and lettings. It is covered extensively in the media and is the leading source of market intelligence, highly regarded both by investors and across the industry.

June 2024

Navah Consulting were instructed to undertake a Reinstatement Cost Assessment for a heavily altered and extended property on the North London/Essex border.

Each month in 2024 we'll be taking a deeper look at a recent instruction of particular interest.

May 2024

Navah Consulting completed a Help to Buy Valuation for remortgaging purposes for a private client based in Bishop's Stortford, Hertfordshire.

The UK Residential Market Survey is used by the government, the Bank of England and other key institutions, including the IMF, as an indicator of current and future conditions in UK residential sales and lettings. It is covered extensively in the media and is the leading source of market intelligence, highly regarded both by investors and across the industry.