Economic Buzz: UK housing market stays subdued

The UK house prices saw subdued moves in June; a survey showed on Thursday. The latest residential market survey from the Royal Institution of Chartered Surveyors showed house prices largely unchanged month-on-month, with a negative balance of -33. The balance stood at -34 in April and -35 in May. New buyer enquiries edged up compared to May?s -34 but remained in negative territory at -29. Looking ahead, and near-term price expectations were also subdued. However, at -32 they were less markedly negative than May?s -44, and longer-term, the 12-month expectations balance ticked up two points to 8.

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