Royal Institution of Chartered Surveyors (RICS) said that housing supply does not keep up with the growth in demand, so the United Kingdom real estate prices surged to a 7-month high in November.
Royal Institution of Chartered Surveyors believe that shortage of housing remains depressed the main feature of the market, in its monthly survey, they are expected in the next 3 months, the entire United Kingdom price should be a growing trend, but due to changes in tax, so there is more uncertainty in the future of the London housing market.
At this point, after Ou Gong voted off in June, United Kingdom's better-than-expected economic performance, also real estate market continues to rise, and moved to 7-month high.
However, the United Kingdom's Central Bank warned last month that economic prospects uncertain, but RICS said, the housing market slowdown in trading activity, it also shows the current housing boom cools off. Simon Rubinsohn, RICS Chief Economist, said with the continuing shortage of homes, and tax changes, as well as the quantity in stock at historic lows, which makes buying market takes a relatively mild.
It's not only important to the housing market itself, but also has an impact on the economy as a whole, which relates to the people to buy flats, and how much money can be used for general consumption. RICS London data show that non-first-time home buyers and investors will face increased stamp duty, and that their exit will have a huge negative impact, which will affect the future of the housing market.
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