U.K. HOUSE-PRICE GROWTH SLOWS FOR A SIXTH MONTH, RICS REPORTS

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Date:​ Thu-12-December-2014

A U.K. house-price index showed price growth slowed for a sixth month in November, according to the Royal Institution of Chartered Surveyors.


RICS said its house-price gauge fell to 13, the lowest since May 2013, from 20 in October. An index for London dropped to minus 40, the least since 2010, from minus 33.


Prospective buyers may be delaying purchases ahead of the general election in May, RICS said. The slowdown may reverse, however, as Britons are lured to the market by a property-tax overhaul announced by the government last week that cuts the cost of buying a home for most people.


“The stamp-duty reform could reverse the softer trend in buyer enquiries that has been visible in recent months,” said Simon Rubinsohn, chief economist at RICS. “Transactions could increase by up to 5 percent over the next year.”


Source From: BONNA REALTY GROUP ( 12-12-2014 )

 

 

 

 

 

 

 

 

 

 

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