The Royal Institution of Chartered Surveyors (RICS) House Price Balance measures the percentage of surveyors reporting a house price increase in their designated area.
Better than expected at -10 and its highest reading since October last year.
- expected -21%, prior -22, revised from -23%
RICS:
"Much of the anecdotal insight provided by respondents is still quite cautious, reflecting concerns about both the underlying political and economic climate,"
Adds Reuters:
- Brexit-battered housing market steadied in May and a measure of prices improved as the delay in the country's European Union exit gave some encouragement to buyers,
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Does not tend to be a GBP mover upon release.
