Economics

Pessimism About U.K. Housing Is at Its Worst in Two Decades

Brexit, supply shortgage weigh on property market, RICS says
Bank of England reports ‘significant’ drop in home-loan demand

Brexit uncertainty is "taking its toll," RICS Chief Economist Simon Rubinsohn tells Bloomberg Television.(Source: Bloomberg)

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By Jill Ward

January 17, 2019 at 12:01 AM UTC

Updated on

January 17, 2019 at 9:43 AM UTC

This article is for subscribers only.

The gloom gripping the U.K. housing market deepened in December, with real-estate agents reporting falling prices and optimism at its lowest ebb in two decades.

The Royal Institution of Chartered Surveyors blamed Brexit uncertainty and a lack of housing supply for the malaise revealed in its latest monthly survey published Thursday. The downbeat assessment came as the Bank of England reported a slump in mortgage demand at the end of last year.