House Prices in Britain Continue to Weaken Over Brexit and Political Uncertainties - Forex News by FX Leaders
Weak Housing Data

House Prices in Britain Continue to Weaken Over Brexit and Political Uncertainties

Posted Thursday, November 14, 2019 by
Arslan Butt • 1 min read

The most recent RICS survey reveals that house prices in Britain have continued to weaken into October on account of rising Brexit uncertainties. The RICS house price index slid lower to -5 in October from -3 in September, coming in below economists’ expectations which were for a reading of -4.

New house sales continued to decline for the fourth consecutive month in October, although the level of decline was slightly better than in September when they had declined at the fastest pace since the Brexit referendum. Enquiries from new buyers and agreed sales also continued to decline last month.

Political and economic uncertainty have kept both buyers and sellers hesitant from making big moves in the housing market. According to RICS chief economist Simon Rubinson, “Given the upcoming general election next month, it appears unlikely that these trends will pick-up to any meaningful extent over the remainder of this year.”

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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