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RICS: No spring boost for UK housing market as interest rates remain high

June 13, 2024

Via: MoneyWeek

The UK housing market saw a dip in confidence in May, according to the latest survey from the Royal Institute of Chartered Surveyors (RICS).

House prices and buyer confidence are partly driven by mortgage rates, which are linked to the Bank of England’s underlying base rate. Hopes for an interest rate cut have been pushed further out on the horizon in recent months, dampening short-term sentiment in the property market.

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