Market comment - RICS survey paints gloomy picture of UK housing market

Davy Research
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Today’s Royal Institute of Chartered Surveyors (RICS) survey of the UK housing market paints a gloomy picture. The price expectations balance declined markedly to -8%, with sharp declines in new buyer enquires and sales agreed. Respondents indicated that the prospect of the Bank of England rate hike is weighing on the market, with falling prices in London now starting to spread out across the South East region.