House prices in the U.K. rose at the slowest rate in over four years in July, hurt by lingering political uncertainty, recent tax changes and a limited number number of homes for sale, according to an industry body. The Royal Institution of Chartered Surveyors said Thursday that headline price growth across the U.K. slid to 1% from 7% in June, marking the softest reading since early 2013. “There continues to be much uncertainty in the market following the election and other political issues but there are signs that this may be beginning to settle,” said Simon Bainbridge, director at real estate agent Savills in Darlington, in the RICS release. The outlook for the next 12 months also remains weak, with 28% of the respondents predicting a rise in prices. That was the least positive reading since July 2016 in the aftermath of the Brexit result. London was among hardest-hit regions, with prices continuing to fall in the British capital, according to the RICS survey.
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