Britain’s housing market appears to be slowing due to the country’s decision last month to leave the European Union, new Bank of England Deputy Governor Sam Woods told lawmakers during an appointment hearing on Tuesday.
“We are just starting to see little bits of evidence around the housing market … all of that does seem to be consistent with a slowing of that market both in terms of pricing and expected activity,” Woods said, pointing to data from the Royal Institution of Chartered Surveyors, mortgage lender Halifax, and property website Rightmove.
“It seems to me quite plausible that the referendum and the uncertainty is having some effect in that market,” he told the Treasury Committee, which was reviewing his appointment.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.