U.K. September Housing Gauge Drops to 16-Month Low, RICS Says
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A U.K. housing-market gauge fell to a 16-month low in September as the number of properties for sale exceeded demand from homebuyers, the Royal Institution of Chartered Surveyors said.
The number of real-estate agents and surveyors saying prices fell exceeded those reporting gains by 36 percentage points, down from minus 32 points in August, the London-based group said in an e-mailed report today. That’s in line with the median forecast of 14 economists surveyed by Bloomberg News. A measure of price expectations fell to minus 41, the lowest since March 2009.
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U.K. September Housing Gauge Drops to 16-Month Low, RICS Says