Housebuilders up on a spring in the step at RICS
Spring is often a good time for the property market and it seems that this year is no exception.
The Royal Institution of Chartered Surveyors (RICS) says itw March residential survey, for the UK market, shows improvements in demand, expectations and prices. Also it says that while near term expectations indicated activity would gain further traction over the coming months, house prices were stabilising. It also says forward metrics indicated an upward trend may appear later in the year. Respondents to the survey had reported an increase of 8% in new buyer enquiries in March marking the third consecutive month where the measure has been above zero.
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The RICS March report
The RICS March report highlights a positive trend in the housing market, with an 8% increase in new buyer inquiries. This optimism has buoyed UK house builders, with shares of Persimmon and Taylor Wimpey notably rising over 3%, reflecting market confidence.
Barrett Development
Other builders like Barrett Development also saw gains, amidst a recovering sector despite recent concerns. This uplift signifies spring's arrival as an opportune time for transactions, positively impacting the FTSE indexes.
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