Rics: Investors to return to the market

News Category: Industry News

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A new housing forecast released by the Royal Institution of Chartered Surveyors (Rics) has revealed that more investors are likely to return to market in 2009.

This publication, which suggests that the rental market could receive a boost, has been attributed to the fact that transaction levels this year have hit the floor.

Rics chief economist Simon Rubinsohn explained that this has seen "some signs that opportunistic investors are returning to the market".

This comes after the forecast predicted that house prices would fall by ten per cent over the forthcoming 12 months.

However, despite cautious lenders and a worsening economy, Rics anticipates that house sales will rise by ten per cent.

Still, it has been claimed that Britons are likely to be attracted to rental accommodation due to the flexibility it offers during the current economic climate.

Time Hyatt, head of UK lettings at Knight Frank, hinted that landlords and letting agents should therefore be cautiously optimistic in 2009.

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