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The Guardian - UK

Business

Tom Knowles

Housing market in England and Wales weakening due to Iran war, say estate agents

England Wales RICS Inflation

Man looking into the window of an estate agent — Inquiries from new buyers fell in April. Photograph: Mike Kemp/In Pictures/Getty Images

Fears of higher mortgage rates and rising inflation as a result of the Middle East conflict are leading to a subdued and downbeat housing market, according to estate agents.

Demand from potential homebuyers across England and Wales has shown a “noticeable softening” recently, according to a monthly survey of estate agents by the Royal Institution of Chartered Surveyors (RICS).

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