House prices slowed slightly for the first time in six months, signaling the property market is cooling figures from the Royal Institution of Chartered Surveyors suggest.
The RICS findings point to property price inflation slowing in May, as the number of surveyors reporting price increases fell compared with the previous month. The slowdown follows the two consecutive interest rate hikes and speculation over the size of any future rate increases, the survey says. May also saw a drop in the number of people looking for a property to buy, with RICS reporting the first fall in the numbers since December last year. That said, the shortage of houses coming onto the property market continues to put upward pressure on prices. RICS believes prices will ...
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