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UK house price index published by the Royal Institution of Chartered Surveyors increased by 5% in June, lower than the previous value of 16% and below +6% expectations. This report reflects the state of the housing market and the economy as a whole, since the real estate market is very sensitive to the business cycle. The decline is a negative factor for the British currency
According to the RICS report, house prices in July grew the slowest pace in three years due to the result of the referendum, as well as changes in tax legislation. There is not only a sharp drop in sales, but the reduction in the number of offers.
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