‘Political Uncertainty' Blamed For Slowdown In UK Property Market

The property market has ground to a halt, with activity back to 2011 levels in some parts of the UK, according to the official surveyors’ body, which blamed “political uncertainty” and forecast flat prices and rents for at least the next year. A large majority of surveyors in both London and south-east England are reporting falling prices, though the national picture is balanced by price rises in the West Midlands, the south-west and Northern Ireland. The Royal Institution of Chartered Surveyors ( Rics) said: “Record low stock numbers, political uncertainty and the aftermath of tax changes are obstacles hindering the UK housing market, with price growth and sales activity subdued during the month of July.” Read more on the Rics website.