Rics comments on Nationwide house figures

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Homeowners contemplating building a conservatory or pool house may be interested in the latest comments from the Royal Institution of Chartered Surveyors (Rics).

The bodys chief economist Simon Rubinsohn explained the latest Nationwide figures are looking positive.

He noted they show house prices are now 4.4 per cent above the low seen in February 2009 and added the three months to July were the strongest rise since February 2007.

The expert did point out mortgage lending was only rising in "a very modest way and thus not affording much help for the property market".

"Net lending increased by just over £300m last month which effectively means that lenders are pretty much just lending out their repayments," Mr Rubinsohn stated, citing Bank of England data.

He added a recent Rics survey found one in ten potential sales collapse due to a difficulty in obtaining finance.

The economist concluded by saying a lack of supply of properties to the market could be an influential factor in price rises.

A recent ratedpeople.com study found adding a conservatory to a property could boost its value by five per cent."ADNFCR-1495-ID-19292262-ADNFCR"

 

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