RICS survey shows UK house price could stabilise after a further fall
Indicator: The RICS Housing Market Survey
Updated: 14 May 2013
The RICS Housing Market Survey is arguably Britain's best house-price predictor. It's a monthly measure of how many surveyors are seeing UK house prices rise compared with those reporting falls. The survey moves in very clear cycles, positive to negative and vice versa.
What's the latest?
April's RICS balance rose to 1, ie, 1% more surveyors saw prices rising than falling. The April Halifax UK three-monthly house price index saw a 2.0% year-on-year rise.
What does this mean for UK house prices?
The RICS survey leads the annual percent change in the Halifax three-monthly house price index by around six months. Despite there now being 1% more surveyors expecting house prices to rise rather than fall, Britain's housing market is still under pressure.
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