Economics
Election Adds to Woes for Sluggish U.K. Property Market
- RICS says sales, inquiries and instructions all declined
- Price index stays negative, but outlook shows improvement
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U.K. political uncertainty weighed on property in October, keeping both buyers and sellers away from the housing market.
Measures of newly agreed sales and buyer inquires both slid, while new instructions fell for a a fourth month, according to a report by the Royal Institution of Chartered Surveyors published Thursday. RICS’s headline index of prices remained negative, with London, the South East, East Anglia and the North East all posting declines.