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House Prices and Hiring Remain Brexit Proof

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British house prices hit a seven-month high in November and companies hired more workers, surveys showed on Thursday, suggesting the economy remained resilient five months after Britain’s vote to leave the European Union.

The Royal Institution of Chartered Surveyors said its measure of house price growth hit +30, up from +23 in October and higher than a forecast of +26 in a Reuters poll of economists.

However, the number of prospective buyers remains low and a recovery in the market is likely to be modest given the uncertain outlook for Britain’s economy, Simon Rubinsohn, RICS chief economist, said.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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