Brexit casts shadow over UK housing market outlook – RICS
The Royal Institution of Chartered Surveyors (RICS), a closely watched industry survey, showed on Thursday, looming Brexit uncertainty is likely to weigh negative on the UK house prices and property sales over the next three months.
Key Findings:
“RICS said its headline price balance for August rose to -4 from -9 in July, bucking economists’ average expectation in a Reuters poll for a further decline to -11.
But RICS members’ outlook for the next three months - during which period Britain is scheduled to leave the European Union - grew darker.
Sales volumes expectations for the next three months dropped to -23 from -4, while short-term expectations for prices declined to -24 from -13.
RICS also noted continued strong demand from tenants at the national level, combined with fewer landlords listing property to rent.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
