Piling, Underpinning and Construction Sectors Expect a Boost, as House Prices Stabilize

August 26, 2009 by katieperry
Filed under: Piling News 

The Royal Institute of Chartered Surveyors (RICS) 2009 Housing Survey,revealed that the housing market is on the road to recovery ,albeit from historic lows.

More and more people are registering their interest in buying property, while the relative number of new properties available is still at an all time low. As a consequence RICS expect house prices to initially stabilize and begin to increase towards to beginning of next year.

The report revealed, that the number of chartered surveyors declaring a rise in new clients, has increased for the eighth consecutive month. The survey also found that over 50% of all surveyors that took part, felt that as house prices continue to stabilize, new developments will start again and subsequently, construction industries such as piling, underpinning and contracting as a whole will experience growth.

Chartered Surveyor, James Heath, commented: “Ultimately, we have experienced an uplift in the number client enquiries we have recieved, over the last quarter.Consequently, I do feel that the historic lows we have experienced over the last year will not be repeated into 2010.Yet, it is vital to remember that the stabilization of property prices, has been a direct  result of the lack of new properties being built. If the property industry is ever going to fully recover, development work needs to begin again. ”


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