Real Estate
UK Housing Market Loses Momentum as Interest-Rate Cut Hopes Diminish
- RICS says gauge of new buyer demand drops to six-month low
- Housing market emerging as key battleground in July 4 election
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The UK housing market is cooling as hopes of an imminent cut in interest rates fade, according to the Royal Institution of Chartered Surveyors.
RICS said Thursday its index of new buyer demand fell last month to the lowest level since November. Gauges of home prices and the number of agreed sales also dropped.