UK Housing Market Cools on Cloudy Economic Outlook

Demand for U.K. housing dropped to a six-month low in February, according to the Royal Institution of Chartered Surveyors.

A measure of enquiries from potential buyers fell to 0 from 3 in January, RICS said in its monthly survey of real-estate agents published Thursday. A gauge of instructions from sellers also declined, remaining below zero for an 12th month.

Economists expect home price growth to cool this year as accelerating inflation erodes household incomes and Brexit uncertainty clouds the economic outlook. RICS said buyer interest had “failed to see any meaningful growth since November” and key activity indicators “remain subdued.”


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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.