Britain's housing market showed some improvement in May but further interest rates increases by the Bank of England are expected to put more pressure on demand and on prices in the coming months, an industry survey showed
The Royal Institution of Chartered Surveyors' measure of new buyer enquiries rose to a net balance of -18, the least negative figure since -14 in May 2022 and up from -34 in April.RICS' house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, increased to -30 last month from -39 in April. A Reuters poll of analysts had pointed to a reading of -38.
However, analysts are forecasting another slowdown for the housing market with markets largely expecting the BoE's Bank Rate to peak at 5.5% later this year, up from 4.5% now. "It seems storm clouds are gathered, with the UK's stubbornly high inflation likely undermining the recent improvement in activity," Tarrant Parsons, senior economist at RICS, said.
Britain's housing market staged a recovery earlier this year after former prime minister Liz Truss's "mini-budget" caused turmoil in financial markets in September and sent the cost of fixed mortgage rates sharply higher to above 6%.Britain's biggest mortgage lender, Halifax, on Wednesday said house prices
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Watchdog group accuses Bank of America CEO of using bank as ‘political club’ against AmericansA conservative non-profit group has launched an ad campaign targeting Bank of America for allegedly imposing an 'ideologically-driven agenda on the American people.'
Leer más »
Britain's Princess Eugenie announces birth of second child | CNNBritain’s Princess Eugenie has given birth to a boy, she announced on Instagram.
Leer más »
It's time for Mac Jones to take control in New EnglandLast week, after a mini-camp heading into his third year with the New England Patriots — a season with no more clarity on how it will all turn out then his first — Mac Jones was asked if he would like to tell his various critics to simply 'shut the F up.'
Leer más »
Susan Boyle Reveals She Had a Stroke During Return to ‘Britain’s Got Talent’ StageThe Scottish sire revealed that she feels “great” after last April’s “minor” medical incident.
Leer más »