Brexit Casts Shadow Over UK Housing Market Outlook

Brexit uncertainty is likely to press down on house prices and the volume of property sales over the next three months, a closely watched industry survey shows. The Royal Institution of Chartered Surveyors said its headline price balance for August rose to -4 from -9 in July, bucking economists’ average expectation in a Reuters poll for a further decline to -11. But RICS members’ outlook for the next three months - during which period Britain is scheduled to leave the European Union - grew darker. Sales volumes expectations for the next three months dropped to -23 from -4, while short-term expectations for prices declined to -24 from -13. Read more on the Reuters website.

https://uk.reuters.com/article/uk-britain-economy-houseprices/brexit-casts-shadow-over-uk-housing-market-outlook-rics-idUKKCN1VW2W1