Rics measures confidence in the property market by balancing surveyors seeing price rises against those seeing price falls. The latest Rics survey is in sharp contrast to figures earlier this week from Halifax which revealed a spike in prices. The downshift is deepest in London and the south-east of England, said Rics, but prices were still rising in parts of the Midlands and north. “Stamp duty and Brexit have killed the fluidity of the London market. Rics said the reversal in the property market could prompt the Bank of England to delay the next rise in interest rates.

Source: The Guardian April 11, 2018 23:01 UTC