London’s Worsening Housing Shortage Keeps Pressure on Prices
ByLondon’s housing shortage is worsening, bolstering the prospect for further price gains in the capital, a survey found.
The Royal Institution of Chartered Surveyors said on Thursday that its measure of the housing stock for sale dropped to minus 16 last month from minus 11. That’s a sixth month of declines and boosted near-term price expectations to the highest in more than a year.
The dynamic in the capital mirrors that seen across the U.K., with a measure of stock per agent dropping to a record low. The imbalance is proving “worrying,” and may last until the Bank of England raises its key interest rate, according to RICS, though it noted that any policy tightening will probably be very gradual…
London’s Worsening Housing Shortage Keeps Pressure on Prices
