The Royal Institute of Royal Surveyors (RICS) published a report showing an increase in house price declines this morning. The RICS House Price Balance report gauges the level of a diffusion index based on surveyed property surveyors who were asked whether housing prices in their districts were rising or declining.
Forecasts surrounding this report were anticipating a return of approximately 20% of surveyors reporting a price decline. When 28% of RICS surveyors reported a decline, investors took cues that the British housing sector may still be in a ragged state and began to push against the nation’s currency in early trading.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
