Simon Robinsohn Backs Commercial Property

Simon Robinsohn Backs Commercial Property

Respected Economist at RICS backs commercial property and has produced a report on the subject with a distinguished panel of experts. From our own work we know that commercial properties remain strong in the Kent and London regions that we deliver the majority of our services to. An extract of the story is below and a link to the full story as well. Worth a read for commercial property buyers and owners.

Price expectations remain strong

In the face of continued demand and lack of supply, rent expectations for the next quarter in the capital are strongly positive across all sectors with rents set to continue to rise in the medium and longer term.

Over the next twelve months, respondents are most confident of seeing rental increases in the prime industrial market in the capital. However, 81% of respondents in the capital now view commercial real estate in central London to be overpriced. Our panel discussed this and felt that it was important to note that investors in the market, especially foreign investors, are not trying to beat the London market, they are trying to beat their own market.

Yield is still higher here than in most other places, even if they are approaching the top; therefore they would expect continued investment. Areas outside London, with further room to grow, are also looking like attractive prospects for those outside the UK. However, the panel noted that due to the emerging nature of these markets, the needs of occupiers may not be fully understood since they are in areas with a longer history of Foreign Direct Investment.

London house prices to fall

London house prices to fall up to 5pc as sellers abandon the market

Estate agents expect house prices in London to drop by as much as 5pc this year with the cost of larger family homes falling the most, an industry survey has revealed.

The report from the Royal Institute of Chartered Surveyors (RICS) has shown that demand for new homes in the capital has continued to weaken, with 45pc more RICS members reporting a decline in new buyer enquiries in December compared with November.

There was optimism around the Chancellor’s radical stamp duty overhaul, READ MORE HERE >>>>>>

The HomeBuyer Report (HBR)

The HomeBuyer Report (HBR) is the current approved report methods needed when buying a house, flat etc (previous name Homebuyers Survey and Valuation (HSV)

The report came into being in 2009 and follows a set formula/measurement as specified by the Royal Institution of Chartered Surveyors (RICS). This ensures the consistency of the report and gives a universal set of references that all parties can understand.

The HomeBuyer Report is recommended for standard homes/flats and newish homes, which are expected to be in a fair condition. As a result it is the most frequently undertaken survey. In all cases it is there to help you make an informed decision when making a property purchase.

The HomeBuyer Report will not detail every single aspect of the building, but it does spotlight urgent matters that have a substantial effect on the value of the property and need attending to or further investigation.

Keep in mind the HBR will cover all major sections of a property that are visible to the surveyor, but they will not lift up floors or carpets and wiring will not be included.

HomeBuyer Reports are completed by RICS Chartered Surveyors.

An introduction to building surveying

The work of a building surveyor

The chartered building surveyor’s portfolio download below outlines the wide-ranging nature of the work of a building surveyor. Other examples of the area of expertise that building surveyors can specialise in are building defects, building regulations, construction contracts, dilapidations health and safety, and project management.

The Chartered Building Surveyor – an international perspective download showcases the work of building surveyors around the world.

RICS and building surveying 

Building surveyors, like all surveyors, inspect property or land. RICS is a professional body for chartered surveyors, which includes chartered building surveyors. RICS sets standards and guidance for surveyors and provides training and continuing professional development opportunities for our members (e.g. building surveyors) to comply with changing standards and legislation.

More resources for chartered building surveyors:

About the Building Surveying Professional Group

The welcome leaflet download below gives a concise overview of the profession.

When you might need a building surveyor

If you are dealing with a large, older or rundown property, a building that is unusual or altered, or if you are planning major works, an RICS building survey (formerly called a structural survey) will give you a comprehensive structural report including defects, repair and maintenance options. A building survey costs more than the other RICS reports because it gives detailed information about the structure and fabric of the property.