Slow demand: A pedestrian passes a display of properties for sale or rent at an estate agent’s window in Cheltenham. Sluggish wage growth, high house prices, the prospect of higher interest rates and the decision to leave the European Union are undermining demand for property in the UK after years of rapid growth. — Bloomberg
LONDON: UK home prices were unchanged in February and concern about the health of the market saw potential sellers hold off putting their properties up for sale.
The Royal Institution of Chartered Surveyors (RICS) said its gauge of prices slipped to zero, effectively marking a ninth month of stagnation, with weakness in London and the southeast weighing on the national market.
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