Aug
08

U.K. Housing Market Stays Subdued as Brexit, Rates Deter Buyers

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  • RICS says buyers shunned the market before BOE rate increase
  •  Supply shortage threatens to push up rents 15 percent by 2023

The U.K. housing market remained listless in July as Brexit uncertainty intensified and Britons braced for an interest-rate increase from the Bank of England, according to the Royal Institution of Chartered Surveyors.

Prices and sales stagnated and property values in London continued to fall, RICS said in a report published Thursday…

U.K. Housing Market Stays Subdued as Brexit, Rates Deter Buyers

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