wrapper

UK housing market recovering after Brexit

Thursday, Oct 13 2016
UK housing market recovering after Brexit

Homebuyers are returning to the market as it settles after a turbulent few weeks following the vote for Brexit at the end of June. The Royal Institution of Chartered Surveyors (Rics) said the level of new buyer enquiries rose for the first time in seven months during September. In its UK Residential Market Survey for the month, a net balance of 8% more respondents reported higher than lower demand, up from -5% in August and a substantial recovery from June's -34%, though there are regional differences beneath the headline figures.

"The market does now appear to be settling down following the significant headwinds encountered through the spring and summer," said Simon Rubinsohn, chief economist at Rics."Buyers do appear to be returning, albeit relatively slowly, but the big issue that continues to be highlighted by respondents is the lack of fresh stock on the market. Although this is not a new story, it is a significant one having ramifications for both prices and the level of turnover."

 

Sterling is currently being traded around 1.22 level. Pair is likely to find support around 1.2150 handle and resistance above 1.2280 area.

More in this category: « Fed Minutes Point to Rate Hike ‘Relatively Soon’ China's Trade Balance unexpectedly fell last month »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.