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RICS Predicts Property Prices Will Fall This Year, As More Surveyors Are Sued For Negligence

Posted byTulloch Priest
Tulloch Priest
Founding Member of Priest Properties Ltd
User is currently offline
on Monday, 09 January 2012
in Property Law
The RICS is predicting property prices could fall by up to 3% this year but some feel these predictions are simply a reaction to homeowners suing more surveyors for negligence. In November of last year solicitors Irwin Mitchell claimed there had been a 20% increase in buyers suing surveyors over negligent valuations, where property was bought for more than its true value. Most of those seeking retribution were buy to let landlords.The rise of the buy to let landlord was well documented last year leading many first-time investors to believe the market was infallible. However the reality has proved somewhat different...

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