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Housing Today
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Demand for homes falls as cost-of-living pressures and interest rates bite, says RICS
House prices however expected to rise in the short term due to lack of supply
Surveyors have reported a drop in new buyer inquiries in May.
According to RICS monthly UK Residential Market Survey, more surveyors reported a fall in new buyer inquiries in May than reported rises, with a ‘net balance’ of -7% (see box for an explanation of RICS’ methodology). This was down from April, which saw a positive net balance of 8%.
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