House prices in Britain mean more persistent decline, says RICS

The balance of the dynamics of house prices in the UK has strengthened its presence in the negative zone. According to a report of RICS, the number of those that expect to reduce by 32% higher than the number of actions taken at the growth. The index fell to current levels after -8 in July, were much lower than konsenus-projection. To reiterate our point made in the review of kiwifruit: the market has plenty of negative news today, and prefers to concentrate on them, developing the correction.
Data on the UK housing market, as we have seen, continues to exert influence on the market, though not to the extent as, say, inflation or industrial production. Besides, you can always refer to the presence of positive dynamics on the basis of 12 months. In addition, several soothes investors that the banks in this country far more prepared for the new rules of Basel III, with a much more capital than the minimum required. On the one hand, this means that demand for the British currency from the banks will not be as high as the euro, but on the other hand, that some reduction in the value of assets of the banking system will be better prepared to survive. This, in turn, will not drastically tightened credit policy.

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