Tax Fears Make UK Estate Agents Gloomy for First Time Since 2023

UK estate agents have turned pessimistic about business for the first time in two years, according to a survey that shows the housing market continuing to lose momentum amid fears of tax rises and concerns over the economic outlook.

The Royal Institution of Chartered Surveyors said its gauge of house sales expectations for the next 12 months dropped to minus 9 in September from 1 the month before, indicating that agents expecting fewer transactions outnumbered those predicting a rise. It was the first negative reading since August 2023.

Firms surveyed cited mounting worries that Chancellor of the Exchequer Rachel Reeves ...