Shortage seen boosting UK house price gains
[LONDON] UK house price growth eased in January, according to an index by the Royal Institution of Chartered Surveyors (RICS), which said in a statement that a shortage of properties for sale will continue to support values.
A gauge declined to 53 from 56 the previous month, RICS said in a statement in London yesterday, citing a survey of property surveyors. The median estimate in a Bloomberg News survey of 20 economists was for an increase to 58. A measure of the number of properties for sale fell to the lowest since July 2012.
An improvement in credit conditions along with the lack of homes for sale has underpinned prices over the past year, raising concerns about the sustainability of the market. Bank of England (BOE) chief economist Spencer Dale said on BBC radio yesterday while he doesn't think the UK is heading towards a housing bubble, officials will watch developments "very carefully".
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Australia home prices continue to climb, Sydney back at record high
US homebuyers are starting to revolt over steep prices
Global banks start targeting a new breed of real estate risk
Skywaters Residences unit sold for S$47.34 million or S$6,100 psf, marking new record for 99-year projects
China home sales slump eases after new government support
China’s 60 million homes are hard to sell even in big cities