UK house prices rose by 3.0% in the year to June 2018, down from 3.5% in the year to May 2018. This is the lowest UK annual rate since August 2013 when it was also 3.0%. Looking at the demand for housing, the Royal Institution of Chartered Surveyors’ (RICS) UK Residential Market Survey for June 2018 revealed their new buyer enquiries series was flat, having been negative since early 2017. On the supply side, RICS reported their new vendor instructions series recorded a positive balance for two consecutive months, the first time this has occurred since early 2016. The average stock per estate agent has been edging up ... (full story)