House sales boom is not sustainable, warns RICS
The Royal Institution of Chartered Surveyors said that the rise in house sales is unsustainable unless properties that are sold are replaced. Despite the lack of housing stock, the number of agreed sales rose at its fastest rate in Britain since May 2014. RICS said the modest improvement in the availability of mortgages and a rise in demand had boosted the sales figure. The Bank of England has revealed that mortgage approvals are running at the highest rate in 18 months.
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