The Royal Institution of Chartered Surveyors main house price balance measures the
difference between surveyors seeing falls and rises in house
prices
It rose to +11 in September
- expected +4
- August was 0
- the September move into positive territory is the first since
October 2022 - sales and enquiries also rose
RICS comment:
-
“A further unwinding in monetary policy is anticipated over
the months ahead, which should create a more favourable backdrop
for the market moving forward”
This is in reference to the the Bank of England’s benchmark Bank Rate now at 5%
after August’s first reduction in borrowing costs in four years. the BoE next meet in November 7 and a further 25bp rate cut is expected.
This article was written by Eamonn Sheridan at www.forexlive.com.
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