U.K. House Prices Cool Down

U.K. house-price growth cooled in February as pent-up demand from potential buyers previously shut out of the market eased, according to the Royal Institution of Chartered Surveyors.

A gauge of values fell to 45 from 52 the previous month, RICS said in an e-mailed statement in London today, citing a survey of property surveyors. While the number of new buyers rose at the slowest rate in almost a year, a shortage of homes for sale meant prices advanced for an 11th consecutive month.

A broadening economic recovery, government incentives and record-low interest rates have fueled the property market after the financial crisis caused banks to curtail lending, locking out first-time buyers who could not afford large deposits. With data last week showing mortgage approvals increased to the most since 2007, housing-market strength has prompted the BOE to end its support for home loans, and Chief Economist Spencer Dale said last month that officials are alert to the risks.


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.