UK housing market decelerates- RICS

11.02.2021 - Evdokimov Roman
UK housing market decelerates-  RICS

The expansion seen in Britain’s housing market receded sharply in January. This followed after the country reimplemented virus-related measures, and a soon-to-expire tax break for buyers dragged the market, a survey showed on Thursday.

House price growth lost its momentum, placing lower than what was expected in a Reuters survey. More so, prices in London plunged for the first time since July, the Royal Institution of Chartered Surveyors said.

The country’s housing market saw a wild increase in the second quarter of 2020 as pandemic-related restrictions prompted people to seek bigger homes. Meanwhile, a tax break for buyers greatly fuelled demand. But the market was dragged as the stamp duty tax exemption nears its expiry, with reports from media that finance minister Rishi Sunak might extend the deadline.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?