UK housing demand ‘subdued’ by high borrowing costs, says RICS

By Daniel Gayne2023-05-11T12:03:00

Bank of England raise rates for twelfth successive month to 4.5%

High borrowing costs and an uncertain economic outlook are stifling momentum in the UK housing market, RICS has said.

According to the organisation’s April residential survey buyer was down to –37% on its index, a slump against the –30% reading recorded in the past two reports.

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