GMT UK data - RICS monthly house price balance for May -32 (vs -24 expected)

Royal Institution for Chartered Surveyors (RICS)

May comes in at -32%, 10 year low.

• expected -24%, prior -22%

RICS Chief Economist Simon Rubinsohn:

• sales that were in the pipeline before the lockdown were now largely going through. "But it remains to be seen how sustained this improvement will prove"
• "For the time being respondents to the survey see the trend in transactions being broadly flat."