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Financial News: UK House Price Balance Lowest Since Late 2012:

UK House Price Balance Lowest Since Late 2012: RICS

05/10/2018 - 00:42:00 (RTTNews)

(RTTNews) - The UK house price balance hit its lowest level since November 2012 largely driven by the weakness in London, the Royal Institution of Chartered Surveyors reported Thursday.

The house price balance came in at -8 in April, the lowest since November 2012, after stagnating in March.

A net 65 percent of respondents said house prices decreased over the month in London, the weakest since early 2009.

Simon Rubinsohn, RICS chief economist, said the housing market typically tends to see a pick-up in activity at around this time of the year.

However, once this seasonal pattern has been allowed for the underlying trend in transactions still remains broadly flat, Rubinsohn added.

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