Skip to content
Subscriber Only

U.K. House-Price Gauge Drops to 5 1/2-Year Low as London Slumps

  • RICS’s index drops to minus 8 in April, lowest since 2012
  • New buyer enquiries unchanged after four months of declines
Bloomberg business news

BNP Paribas’s Laurence Mutkin and HSBC’s Elizabeth Martins on BOE Policy, the Pound and House Prices

(Source: Bloomberg)

A gauge of U.K. house prices dipped to its lowest in more than five years last month, according to the Royal Institution of Chartered Surveyors, with the slowdown most acute in London and the southeast.

RICS’s gauge of prices dropped to minus 8, the lowest since November 2012, the organization said in a report Thursday. The descent into negative territory follows months of stagnating prices, and surveyors don’t expect any pick-up in the near term.