Buyers return to UK housing market

The still subdued consumer sentiment against a backdrop of rising cost of living and elevated household debts is holding consumers back from committing themselves to the purchase of big ticket items like a house.

LONDON: The UK housing market saw an increase in new buyers for the first time since November 2016 last month, the Royal Institution of Chartered Surveyors said.

There are several signs that the housing market is starting to stabilise, RICS said yesterday. Sales and new instructions started to pick up for the first time this year in June. A gauge of prices indicated stagnation after four months of declines.