Britain’s housing market remains ‘fragile’ as buyer demand, sales and prices slide amid interest rate hike fears, according to estate agents.
A survey by the Royal Institution of Chartered Surveyors (RICS) showed that a series of market indicators remained ‘in negative territory’ last month.
It comes after Donald Trump’s Iran war pushed up inflation fears, causing hopes for rate cuts this year to evaporate.
And although the Bank of England has not for now hiked rates, the changed expectations have seen lenders pull their best mortgage deals from the market, dampening activity.
Last week, lender Halifax reported that house prices dropped by 0.1 per cent in May. It was the first time in two years that prices have fallen for three months in a row.
