All tenures suffering as RICS’ latest survey finds uncertainty weighing more heavily than ever
As MPs wrangled in the House of Commons over Brexit, RICS warned that uncertainty surrounding the UK’s departure from the EU was becoming increasingly damaging to the domestic housing market.
RICS said whether a deal was achieved or not, the further impact of uncertainty was likely to be felt across all tenures of the housing market.
Simon Rubinsohn, RICS’ chief economist, said that with little sign the Brexit issue would be resolved any time soon “it could prove to be a challenging spring for the housing market and the wider economy”.
After MPs voted down Theresa May’s deal on Wednesday and following the chancellor of the exchequer’s warning that leaving the EU without a deal could cause catastrophic harm to the UK economy, RICS said buyer demand fell in February for the seventh month in a row.
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