Brexit Batters U.K. Housing as RICS Index Worst in Six Years
- Stretched affordability, murky economic outlook discouraging
- Realtors in survey don’t see a pickup until after divorce deal
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A key gauge of the U.K. housing market fell to the weakest since just after the financial crisis.
The Royal Institution of Chartered Surveyors said its index of prices fell to the lowest in six years in October, pointing to a modest drop in values. Uncertainty about the U.K.’s impending exit from the European Union and a lack of new buyers have battered the market, RICS said on Thursday.