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UK housing market shows signs of slowdown – RICS

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Reuters UK

LONDON (Reuters) – Britain’s housing market showed signs of a slowdown in May as fast-rising inflation and higher interest rates tightened the financial squeeze for many households, according to a survey published on Thursday. The Royal Institution of Chartered Surveyors (RICS) said its new buyers gauge fell to -7 from +8 in April, the first time it turned negative in nine months. “The increase in the cost of mortgage finance alongside growing concerns about the economic outlook is unsurprisingly having an impact, albeit a relatively modest one at this point,” Simon Rubinsohn, RICS Chief Econo…

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