According to a survey released on Thursday, British real estate surveyors fell to their lowest point in more than three years in October as rising mortgage interest rates squeezed demand for home buyers. The Royal Institution of Chartered Surveyors said that in October its expected index of house sales for the next 12 months fell to -17, and surveyors expected the widest decline in house sales since July 2023. Tarrant Parsons, head of market research at RICS, said, “Demand for home buyers is still sluggish. Given the ongoing macroeconomic challenges they face, respondents are preparing for even weaker sales performance in the coming year.” RICS's core housing price difference index fell to -36 last month, lower than -34 after a downward revision in September, and the decline was slightly larger than the expected value of -34 in media surveys. Its new buyer consultation index remained at -24, while the sales achieved index fell from -18 to -24, the lowest level in three months. In terms of the rental market, demand from tenants has increased, while landlords have reduced the number of listings for rent.

According to a survey released on Thursday, British real estate surveyors fell to their lowest point in more than three years in October as rising mortgage interest rates squeezed demand for home buyers. The Royal Institution of Chartered Surveyors said that in October its expected index of house sales for the next 12 months fell to -17, and surveyors expected the widest decline in house sales since July 2023. Tarrant Parsons, head of market research at RICS, said, “Demand for home buyers is still sluggish. Given the ongoing macroeconomic challenges they face, respondents are preparing for even weaker sales performance in the coming year.” RICS's core housing price difference index fell to -36 last month, lower than -34 after a downward revision in September, and the decline was slightly larger than the expected value of -34 in media surveys. Its new buyer consultation index remained at -24, while the sales achieved index fell from -18 to -24, the lowest level in three months. In terms of the rental market, demand from tenants has increased, while landlords have reduced the number of listings for rent.