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UK housing market outlook worst on record

Staff Writer |
The outlook for the UK housing market over the next three months was the worst on record in December as uncertainty over Brexit took its toll, according to the latest survey from the Royal Institution of Chartered Surveyors.

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The net balance of surveyors expecting sales to drop came in at -28, marking the worst reading since the series began in 1999.

Meanwhile, the net balance of surveyors reporting that house prices have risen over the last three months fell to -19 in December from -11 the month before. This was the fourth consecutive negative reading and fell short of analysts' expectations for a reading of -13.

Looking ahead, the outlook for prices over the next 12 months was broadly flat. With the exception of London and the South East, prices were anticipated to either rise or hold steady across the other UK regions over this time horizon.

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