Boom in surveys as housing market improves
We’re set to employ more staff after a surge in demand for surveys by house-buyers.
We are carrying out 40 per cent more reports this month, February 2014, compared with February 2013 as the housing market and wider economy gains pace.
The increased instructions come as the Office for National Statistics (ONS) found that average house prices nationwide hit £250,000 for the first time – and as the Bank of England indicated that interest rates would not rise for some time
Ian Lee, one of our Directors, said: “Clients used to ask us how much a survey would cost but now they are asking how quickly we can do it.
“We have seen a 40 per cent increase in surveys compared with last February and expect this to continue into 2014.
“The strong demand and activity levels indicate that the number of prospective buyers is rising and that properties are being snapped-up quickly as confidence in the housing market returns.
“The steady improvement on this time last year and our increased workload means that we are seeking to expand to cope with the volume of demand.”
Bank of England Governor Mark Carney recently said that record low interest rates of 0.5 per cent would remain in place for the foreseeable future.
The ONS has found that the average price of a house across the UK hit £250,000 for the first time at the end of last year.
Other measures produced by the Halifax and the Nationwide, suggest prices are lower.
The latest Nationwide indices for the last quarter of 2013 put the average house price in the Portsmouth area at £197,078. In the Southampton area it was £232,016 and £190,651 on the Isle of Wight.
Nationwide estimated that prices rose on average by 8 per cent across the country last year.
We recently expanded with the addition of the Brunel Design Group in January, taking staff numbers to 17.
We carry out residential work, including surveys and architectural and structural engineering services, as well as commercial contracts and work for such clients as the MOD.
Ian , who is a former Chairman of the Portsmouth Property Association (PPA), urged buyers to use local chartered surveyors where possible.
“Buyers still have to be sensible and it is still crucial that they have an independent survey carried out before proceeding with a purchase.
“It could save a great deal of money in the long run if a problem is identified at an early stage before a sale goes through.
“I would urge people to use a reputable and experienced local surveyor who will be aware of any local issues and represent good value for money.”
We’re set to employ more staff after a surge in demand for surveys by house-buyers. We are carrying out 40…