After the Bank of England cuts interest rates, UK real estate survey agencies are set to see a surge in sales

MEDIA, Aug. 8 (Bloomberg) -- A British real estate surveyor expects a sharp increase in U.K. home sales in the coming months after the Bank of England announced an interest rate cut. The Royal Institution of Chartered Surveyors said surveyors assessing real estate are at their most optimistic level about sales over the next three months since early 2020.July's figures showed that London was one of the areas where estate agents were most optimistic about future sales. Optimism about house prices across the country has also risen. The survey, published on Thursday, further suggests a return of confidence in the UK housing market after high mortgage rates dampened the recovery in the first half of 2024. The two largest mortgage lenders said earlier this month that house prices had started to rise again after stagnating earlier this year.

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