Economic Buzz: UK housing market stabilizing though elevated interest rates could weigh on sentiments

Britain's housing market is likely stabilising after months of weaker demand and subdued sales activity. RICS August house price balance rose to a five-month high of -28 from -29 in July, with new buyer enquiries at -19, the strongest since January. Rental market tightens as the net balance for rents over the next three months jumps to +44 from +33. RICS noted that higher interest rates or increased property taxation post-October budget could pressure prices.

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