Middle East News 247

UK house prices keep rising after tax break winds down

Most surveyors expect prices to continue rising over the next 12 months due to lack of supply

A lack of new homes for sale in Britain boosted prices again last month, even as the market slowed after the partial withdrawal of a pandemic emergency tax break for buying properties, a survey showed on Thursday.

The Royal Institution of Chartered Surveyors’ gauge of new buyer inquiries slipped in August to its lowest level since January, as did its measure of sales.

But with demand still far in excess of supply, a net 73 per cent of surveyors polled by the institution reported rising house prices, although that was down on 79 per cent in July.

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