This translation has been automatically generated and has not been verified for accuracy.Brexit uncertainty is likely to press down on house prices and the volume of property sales over the next three months, a closely watched industry survey showed on Thursday.
But RICS members’ outlook for the next three months — during which period Britain is scheduled to leave the European Union — grew darker.Sales volumes expectations for the next three months dropped to -23 from -4, while short-term expectations for prices declined to -24 from -13. Although Prime Minister Boris Johnson has vowed to take Britain out of the EU by Oct. 31 — without a transition deal if needed — parliament has ordered him to ask the EU for a delay if he fails to negotiate a new agreement with the bloc.
Higher purchase taxes on housing costing more than 1 million pounds , as well as concern about the effect of Brexit on London’s financial services industry, have weighed on prices in the British capital.