The Royal Institution of Chartered Surveyors (RICS), a closely watched industry survey, showed on Thursday, looming Brexit uncertainty is likely to weigh negative on the UK house prices and property sales over the next three months.
“RICS said its headline price balance for August rose to -4 from -9 in July, bucking economists’ average expectation in a Reuters poll for a further decline to -11.
But RICS members’ outlook for the next three months – during which period Britain is scheduled to leave the European Union – grew darker.
Sales volumes expectations for the next three months dropped to -23 from -4, while short-term expectations for prices declined to -24 from -13.
RICS also noted continued strong demand from tenants at the national level, combined with fewer landlords listing property to rent.”