U.K. House Prices to Rise Due to Supply Shortage, Surveyors Say
- Instructions to sell property at lowest since April 2020
- Rightmove says apartment market is starting to rebound
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U.K. house prices are likely to surge further in the next year because of a shortage of new properties coming onto the market, an industry survey showed.
The figures from the Royal Institution of Chartered Surveyors suggest that the expiration of a tax break on purchases will do little to slow what’s been a red-hot market. It’s one of the signals that inflation is picking up across the U.K. and starting to alarm policy makers at the Bank of England.