Economic Buzz: UK House Prices Continue To Rise On Limited Supply

11 Aug 2022 , 05:16 PM

UK house prices continued to increase across the UK due to the lack of supply, the Residential Market Survey from the Royal Institution of Chartered Surveyors showed. A net 63 percent of respondents said house prices increased in July. The balance was forecast to ease to 60 percent. The lack of supply was the crucial factor supporting the continued house price growth. Although the balance was more moderate than a recent high of +78 percent in April, it was comfortably above the long run average of +13 percent. The score still indicates a firmly upward trend, RICS said. The sales expectations were the most downbeat since March 2020, with the balance easing to -36 percent from -21 percent in June. Powered by Commodity Insights