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British House Price Measure Registers Highest Level Since October

As Brexit gets delayed to October, UK’s housing market has received some much needed relief in May. According to data released by Royal Institution of Chartered Surveyors (RICS), the measure of house prices has climbed higher to -10 in May from -22 in April.

This figure measures the difference between price rises and falls reported by members and typically offers a six-month lead over other ways to measure house price inflation. It touched the highest level in May after October 2018, and beat expectations which were for -21.

Britain’s housing market has suffered significantly since the Brexit referendum in June 2016. During that month, the house price measure was +19, and has declined since then into negative territory.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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