General Flashcards
What is the Occupiers Liability Act 1957
imposes a duty of care on occupiers to all lawful visitors to ensure that they are reasonably safe for the purpose for which they are on the occupier’s premises.
What is Freehold ownership?
Full ownership of full property.
What is Leasehold ownership?
Exclusive possession of property (whole or part) of a set duration.
What is Commonhold ownership?
Usually residential schemes, share of property (i.e. apartment in block).
What is Crown Land?
Owned by the crown.
What is a Calderbank Offer
Calderbank Offers: without prejudice offers savings with costs. Arose from Calderbank v Calderbank Case Law; prevents unreasonable rejection and reasonable value in question.
What is the measurement of a brick?
215 x 102 x 65
What is your understanding of the RICS Harris Debate?
The Harris Debate is organised annually by the RICS and provides a platform to address ethical concerns in the field of surveying and valuation.
What was discussed at the Harris Debate in 2024?
In 2024 the debate focused on the theme of ethics in the Age of Artificial Intelligence and its impact on Valuation Practices. Explored the ethical implications of incorporating AI into valuation surveying.
What is your Economic Outlook for the 2025 UK Property Market?
The UK property Market in 2024 had been dampened by high interest rates which aimed at combating rising inflation. However the BoE has recently decreased interest rates which should encourage buyer affordability.
What impact is hybrid working and working from home having on the property industry?
Working from home is having a significant impact on both residential and commercial property. Many workers now prioritize homes that can accommodate home offices, leading to increased demand for properties with extra space or adaptable layouts. There is also increased demands in suburban and rural areas as WFH is so popular.
What is current UK inflation?
UK Inflation (CPI): 2.5% (as of December 2024)
What is the current Bank of England Interest Rate?
Bank of England Interest Rate: 4.5%
