Davy Research

Market comment

RICS house price survey falls to weakest level in five years

DAVY VIEW

The RICS UK house price survey fell to its weakest level in five years in July, signalling that prices are stagnant and will remain so through 2017. Given Brexit uncertainties, the housing market is clearly a key risk for the UK economy. UK house prices are being protected by an illiquid market, but we have revised down our forecast for UK mortgage lending given weak transactional activity in 2017.

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