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Increased Choice for Welsh Homebuyers as Supply Increases and Fewer New Buyers Active
Increased Choice for Welsh Homebuyers as Supply Increases and Fewer New Buyers Active

Business News Wales

time12-06-2025

  • Business
  • Business News Wales

Increased Choice for Welsh Homebuyers as Supply Increases and Fewer New Buyers Active

The number of house sales in Wales fell at the fastest rate seen since early 2023 according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey, and surveyors are cautious about the outlook. A net balance of -43% of respondents in Wales report that the number of house sales fell through the month of May. This is the lowest this balance has been since February 2023. Looking ahead, a net balance of -20% of respondents expects sales to continue to fall over the next three months. House prices are anticipated to be broadly flat in the same timeframe having risen marginally over the past three months. (A net balance of 7% of Welsh surveyors reported that house prices rose between March and May.) Regarding demand, a net balance of -7% of surveyors in Wales reported a fall in new buyer enquiries, which is a key factor in the cautious outlook. And with supply levels having seen an upturn – with a net balance of 49% of Welsh respondents noting a rise in new instructions to sell – those who are looking to purchase residential property appear to have increased choice. With regard to the lettings market, respondents in Wales report that both tenant demand and landlord instructions fell broadly flat in the most recent survey. As such, surveyors in Wales anticipate that rents will fall broadly flat over the next three months. Commenting on the sales market, William Graham, Chartered Surveyor of Graham & Co in Newport said: 'Despite little change in mortgage rates, valuation instructions have increased, and there is still a shortage of good quality well maintained houses in all prices.' On the lettings market, Anthony Filice, FRICS of Kelvin Francis Ltd in Cardiff added: 'Some, mainly older, landlords are selling up, whilst others, slightly younger, are buying some of these, adding to their portfolios. Rents have stabilised, with some landlords considering lower offers of rent.' Commenting on the UK picture, RICS Senior Economist, Tarrant Parsons, said: 'Sentiment across the UK residential property market remains somewhat subdued, with ongoing uncertainty around global trade policies and the dampening effect of transactions being brought forward ahead of the Stamp Duty changes at the end of March continuing to weigh on buyer activity. 'However, near-term sales expectations are showing signs of stabilisation, suggesting that while muted conditions may persist in the short term, a further deterioration appears unlikely. Looking ahead, the outlook is more optimistic, with respondents anticipating a gradual recovery in sales activity over the next 12 months. 'That said, the pace and extent of any improvement will partly depend on the Bank of England's ability to continue cutting interest rates.'

BPD: Shots fired on West End Ave; suspect in custody
BPD: Shots fired on West End Ave; suspect in custody

Yahoo

time12-03-2025

  • Yahoo

BPD: Shots fired on West End Ave; suspect in custody

BINGHAMTON, N.Y. (WIVT/WBGH) – The Binghamton Police Department has arrested one Binghamton man following an investigation into a late-night report of shots fired on West End Avenue. Officers responded to 190 West End Ave in Binghamton around 12:30 a.m. Wednesday, March 12 for a report of five gunshots heard in the area. Police say a Honda Civic in front of the home and a chair on the front porch were hit by gunfire. No injuries were reported at the scene. Officers part of the investigation concluded that 30-year-old William Graham, of Binghamton, was the primary suspect in the shooting. BPD went to Graham's known address on Bennet Avenue, where he was arrested. Police searched his car and said a .44 caliber handgun was found. Graham was officially charged with: Reckless Endangerment 1st Criminal Possession of a Weapon 2nd Criminal Possession of a Firearm Police are still investigating the situation. Passenger attacked flight attendant, swallowed rosary beads on plane to Miami: court docs US toughens visitor registration rules for Canadians Teams vying for No. 1 NCAA seeds stated their cases and now it's up to selection committee to decide RFK Jr. is targeting ultraprocessed foods: What are they, and are they bad? 56 percent disapprove of Trump handling of economy: Survey Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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