U.K. Real Estate Agents See Property Market Weakening in 2021

U.K. real estate agents see the housing market cooling significantly next year as pent-up lockdown demand and a tax break come to an end.

Property prices rose in October and will likely continue to do so through the end of the year, the Royal Institution of Chartered Surveyors said Thursday. The number of new home listings is on its longest growth streak since 2013 and there was an increase in new buyers for a fifth month.

But the outlook is “subdued,” RICS said. Rising unemployment, new virus restrictions and the planned end of a temporary tax break on buying a house mean realtors expect the boom to be short-lived.

By Eileen Gbagbo, please read the full article on Bloomberg.

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