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UK House Price Balance Improves In June: RICS

UK house price balance improved unexpectedly in June as buyers for property increased for the first time since late 2006, data from the Royal Institution of Chartered Surveyors showed on Thursday.

The house price balance rose to -1 percent in June from -9 percent in the previous month. The score was forecast to fall to -12 percent.

The latest data provides further evidence of the sales market settling down, Simon Rubinsohn, RICS chief economist, said.

"I don't get the impression from the insight provided by contributors that this is fuelling hope of a significantly more active market going forward," Rubinsohn added.

New buyer interest increased for the first time since November 2016 and new instruction picked up in June.

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