Pursuits
U.K. House Prices Boosted by Worst Shortage in Four Decades
Much of the U.K.’s affordable housing is funded by private developers through levies paid in return for planning permits.
Photographer: Matthew Lloyd/BloombergThis article is for subscribers only.
U.K. house-price growth accelerated for a fourth month in May as the shortage of properties for sale reached its worst level in almost four decades, a survey found.
The Royal Institution of Chartered Surveyors said on Thursday that its price gauge increased to 34 from 32 in April. Economists in a Bloomberg survey had forecast a reading of 36. In London, its measure jumped to the highest in almost a year.