UK real estate sales expectations fell to a two-decade low in December 2018, a survey by the Royal Institution of Chartered Surveyors (RICS) showed on Thursday.
“Over the next three months, sales expectations are now either flat or negative across the UK. The headline net balance of —28% represents the poorest reading since the series was formed in 1999,” the RICS said, commenting on the survey.
The survey results come amid a tense situation in the United Kingdom as it may leave the European Union without a deal on March 29 if the nation’s government fails to find a compromise between its parliamentarians and EU authorities on the Brexit mechanism. UK Prime Minister Theresa May, for her part, has pledged to report on the progress of the withdrawal agreement next Monday.