According to Jinshi Data, the UK real estate survey agency expects that UK house sales will increase significantly in the coming months after the Bank of England announced a rate cut. The Royal Institution of Chartered Surveyors said that surveyors who assess real estate are at their most optimistic level since the beginning of 2020 about sales in the next three months.
Data for July showed London was among the regions where estate agents were most optimistic about future sales. Optimism about house prices across the country also rose. The survey published on Thursday added to signs of a return of confidence in the UK housing market after stubbornly high mortgage rates had held back a recovery until the first half of 2024.
The two largest mortgage lenders said earlier this month that house prices are rising again after stagnating earlier this year.
