This morning’s UK Royal Institution of Chartered Surveyors (RICS) survey shows a marked pick-up in the headline price balance (+80%) to close to its highest level since the late-1980s. This adds to the evidence that activity has been more buoyant than expected in early 2022, albeit with estate agents’ expectations for sales over the next 12 months more subdued – no doubt reflecting the enormous uncertainty of how the UK housing market will react to higher interest rates.
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