Commentary by Ruban Selvanayagam

• According to the latest UK House Price Index, average house prices saw an annual price rise of 0.7% (to July 2019);
• The latest Hometrack UK Cities House Price Index reported that Leicester saw the greatest year-on-year house price growth at 4.8%.  This was followed by Liverpool (4.6%), Manchester (4.5%), Cardiff (4.1%), Edinburgh (4.0%) and Birmingham (3.8%);
• The most recent Royal Institute of Chartered Surveyors (RICS) report stated that near term sales expectations slip deeper into negative territory; new instructions and buyer enquiries broadly flat and the demand for lettings continues to rise against a backdrop of falling supply.