UK house price survey slumps further

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UK house price survey slumps further

<p>Royal Institution of Chartered Surveyors data. </p><p>UK RICS house price balance for August 53, back to its lowest since January 2021</p><ul><li>expected 60, prior 62</li></ul><p>RICS also provide an outlook for the number of homes sold in Britain over the next 12 months, lowest in a decade:</p><ul><li>its survey balance for sales expectations over the next 12 months - which measures the difference between the percentage of surveyors expecting a rise and those expecting a fall - sank to -45 in August from -36 in July. This was the lowest reading since this question was first asked in 2012</li></ul><p> RICS members have also seen the biggest fall in enquiries from new buyers since April 2020</p><ul><li>"Concerns over the economic backdrop and rising interest rates continue to take their toll on market momentum, with strong activity early in the year now giving way to a more subdued picture," RICS economist Tarrant Parsons said.</li></ul><p>Info via Reuters </p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: UK house price survey slumps further

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