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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 Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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