UK house prices edged up in July – RICS survey

The latest survey conducted by the Royal Institution of Chartered Surveyors’ (RICS) showed that the UK house prices rose in the month of July, as prices in London fell broadly, which bumped up the prices in Scotland, Northern Ireland and most of central and northern England, Reuters reported.

The RICS monthly house price balance rose to +4 in July from an upwardly revised +3.

RICS Chief Economist Simon Rubinsohn noted: “The impact of recent and ongoing tax changes is clearly having a material impact on the buy-to-let sector as intended. The risk ... is that a reduced pipeline of supply will gradually feed through into higher rents.”