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Delay in interest rate cut dampens market demand, prompting housebuilder to issue profit warning

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June 13, 2024
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Data from the Royal Institution of Chartered Surveyors (RICS) revealed a decline in the housing market last month, as hopes for a Bank of England rate cut diminished. This report was released just hours before a major housebuilder issued a profit warning. According to the RICS monthly study, prices dropped in May as mortgage rates began to rise. This came after it became clear that the Bank of…

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