Higher interest rates have cut the number of buyers visiting estate agents and led to a sharp slowdown in house price inflation, the RICS has reported. The Guardian. Financial Times
New-buyer enquiries fell in June at the fastest pace since February 2006. The decline was particularly pronounced in London, where affordability is severely stretched.
The RICS also reported that 10.6% more chartered surveyors reported a rise than a fall in house prices in June. Although this represents the 20th successive month of rising prices, it is half the 22.5% recorded in May and is well below the survey’s long-run average of 21.6%.