House prices are rising at their slowest pace since last June, giving further signs the nation's booming housing market may be running out of steam, reports the Guardian.
The Royal Institution of Chartered Surveyors (RICS) said in January 28% more surveyors had reported a rise rather than a fall in prices, down from 36.6% in December and the fourth monthly drop in a row. RICS spokesman Jeremy Leaf said: "Interest rate rises are having the desired impact of stabilising the market. The Bank of England's hawkish activity has deterred some buyers who have started to hesitate before taking the property ladder plunge." The survey also showed the fourth drop in a row in new buyer enquiries, although a lack of supply of property coming onto the market helped kee...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
