RICS November survey likely to show further rebound in U.K housing market

The U.K. housing market appears to have got over the shock of referendum pretty quickly. The RICS survey is likely to have reiterated that in the November survey results, according to a Societe Generale research report. Both new vendor instructions and new buyer enquiries made gains in October.

They are expected to have held onto those gains in November or even make additional marginal gains, stated Societe Generale. New buyer enquiries are a good leading indicator of mortgage approvals, and hence that would be under a particularly close observation. Moreover, the price and price expectation series both are likely to increase further, added Societe Generale.

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