UK house price growth rises 5% as rental demand falls [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
According to the latest data from the Royal Institution of Chartered Surveyors (RICS) residential survey, buyer demand also saw an upward trend despite higher mortgage interest rates The survey's national house price indicator rose 5% during the month, up from 16% in October. This marks the fourth consecutive monthly increase, confirming upward trajectory of house price growth seen since the summer. Respondents expect house prices to continue rising over the next three and 12 months, reflecting a robust outlook for the year ahead, RICS said. New buyer enquiries maintained positive momentum at 12%, largely unchanged from the previous month, while 19% of professionals predict an increase in sales activity over the next quarter. However, market appraisals in November were on par with levels recorded a year ago, possibly signalling a potential slowdown in the pipeline of new listings moving into 2025. Tenant demand also declined slightly in November, marking the first decrease
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