UK Housing Market Cools Despite Upbeat Surveyors; Positive Outlook Ahead

Data for the UK housing market from the Royal Institution of Chartered Surveyors (RICS):

January house price balance comes in at +22

• December was +26 (which was the highest reading since September 2022)
• survey’s measures of growth in new buyer enquiries and
  agreed sales both weakened

RICS comment:

• “Growth in buyer demand lost a bit of momentum through the
  early part of the year, with this flatter picture likely linked
  to the turbulence seen across money markets in the first half of
  January,”
• “Moving forward, respondents continue to envisage a slightly
  positive near-term outlook for sales activity. This should be
  further supported by the unwinding of some of the pressures
  around mortgage interest rates over the past couple of weeks.”

This article was written by Eamonn Sheridan at www.forexlive.com.