Rics reports since September 2012 the weakest measurement value for the rise in house prices

A net ten percent of land surveyors said house prices have fallen last month, reports the Royal Institution of Chartered Surveyors today.

It says that it doubts the sales momentum in the coming months because of the concerns of the Brexit.

Rics said the report is the weakest assessment of its price growth since September 2012, when a 17 percent balance of land surveyors reported that they were declining rather than rising prices.

Brexit affects the prices of homes, but not all regions in the UK see a depreciation

Brexit affects the prices of homes, but not all regions in the UK see a depreciation

Simon Rubinsohn, chief economist at Rics, said: "Uncertainty about the economic outlook as a result of the relentless Brexit negotiations seems to be a rut on the sentiment. & # 39;

The general price indicator also fell in September – but only to a limited extent, with a balance of two percent of surveyors who saw falling prices.

House hunters who shop in the highest price streets could get a bargain, because Rics said that houses in this category are noticeably below the asking price, while properties with a value of £ 500,000 or less are relatively stable.

For items sold for more than £ 1 million, nearly three-quarters of surveyors said sales prices were below the asking price – and 14 percent said sales prices were on average more than 10 percent below the initial asking price.

The current weakness usually stems from London and the southeast, but East Anglia, the southwest and the Northeast also have negative price balances.

Surveyors in London and Southeast Asia continue to give a negative assessment of the outlook for house prices in the coming year, Rics said.

Halifax data showed that annual house price inflation slowed over the past year, while monthly and quarterly increases increased by low single digits.

Halifax data showed that annual house price inflation slowed over the past year, while monthly and quarterly increases increased by low single digits.

Halifax data showed that annual house price inflation slowed over the past year, while monthly and quarterly increases increased by low single digits.

Prices have continued to rise in other parts of the UK, with the strongest growth in Northern Ireland and Scotland – which is expected to last at least for the next 12 months – the report says.

The data from Rics comes after Halifax released a report this week that, unlike the Rics report, showed that house prices are rising, albeit at slowest pace for five-and-a-half years, because buyers are cautious with Brexit.

The data from Halifax showed that house prices in October were only 1.5 percent higher than the figure of 2.5 percent recorded in September.

However, the lender said that the cost of the average house in October has risen after two consecutive months of falling, and now stands at £ 227,869.

Brian Murphy, head of lending for the mortgage advice agency, said: "While other house price indexes released in the past week or so have led to a modest level of headline level growth, they do not have a clear picture delivered as the data of Rics in terms of variations between the region, and indeed how the demand for properties at different price ranges within even the same local market is currently being split.

What seems to be consistent, however, is the continuing lack of features that are available, even in those areas where demand is still high and prices are still rising, the number of new offers in recent years remain moderated for a month.

This can help very well in underpinning current values ​​in some areas where demand is high, although in other areas a lack of housing offered for sale can contribute to the current market malaise because buyers can not find what they are looking for, leading to a stagnating environment.

When it comes to the rental market, Rics said the quarterly data points to an improvement in tenant demand during the three months to October.

In addition, however, the landlord's instructions continued to decline and remained negative for a tenth consecutive quarter – the longest negative point since 1999 when Rics began recording the data.

Rics expects rents to rise in the coming months, albeit only modestly.

Murphy added that RICS members seem to be just as cautious about the health of the rental market.

Although it seems like in some regions, demand from tenants has increased slightly, which, along with a number of landlords who leave the market due to the influence of tax changes on rental income, means that Rics suggests that this is a slight upward adjustment of rents over the next quarter. & # 39;

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