Brexit uncertainty ‘a major drag’ on UK house prices

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Latest RICS residential market survey suggests activity being dampened by country’s drawn-out departure from the EU

As the government stumbles from one crisis to the next over the UK’s departure from the EU, new research suggests Brexit uncertainty is continuing to play a significant role in dampening down the domestic housing market.

The latest RICS residential market survey for March shows continuing decline in demand from buyers, while sales are down, as are new instructions.

And while respondents to the RICS’ latest survey are “more positive” in the long term, the poll found that a dip in house prices across the UK was expected in the next two quarters. 

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