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Uk Housing Market Pick-up To Help Offset Weak Consumer Spending

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Latest from the wires :

UK housing market pick-up to help offset weak consumer spending - RICS

09.27.2005, 11:51 AM

LONDON (AFX) - Consumer spending is likely to remain under pressure in the coming months as household incomes are squeezed by higher oil prices, but slight pick-ups in housing activity and business investment should help prop up the economy, according to the Royal Institution for Chartered Surveyors.

'Tentative signs of a revival in housing activity and business investment, along with a stable labour market, suggest that the economic slowdown is not developing into a recession,' RICS said in its latest Economic Brief.

The housing market appears to be experiencing a 'soft landing' after showing signs of a recovery over the summer, boosted by the August interest rate cut, RICS said. Only a 'severe shock', such as ongoing sharp rises in the price of oil, are likely to derail it, it said.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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