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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