Commentary by Ruban Selvanayagam

• According to the latest UK House Price Index, average house prices saw an annual price rise of 0.9% (to June2019);
• The latest Hometrack UK Cities House Price Index reported that London had the highest house price to earnings ratios (at 13.1x), followed by Cambridge (12.2x), Oxford (11.9x), Bournemouth (9.7x) and Bristol (9.2x);
• The most recent Royal Institute of Chartered Surveyors (RICS) report stated near term expectations for the property market have turned slightly negative again; buyer enquiries increased marginally for the second consecutive month although sales fail to pick-up and landlord instructions continue to fall across the lettings market.