Rolling coverage of the latest economic and financial news, as the RICS gauge of UK house prices turns positive for the first time in almost two years

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

The UK housing market is continuing to pick up, the nation’s surveyors have reported, but renters are being squeezed by a fall in properties available to them.

“The latest survey results once again convey a brighter picture for housing market activity, with the recent easing in mortgage interest rates continuing to support a recovery in buyer demand.

“Critical for the outlook, a further unwinding in monetary policy is anticipated over the months ahead, which should create a more favourable backdrop for the market moving forward. In keeping with this idea, forward-looking sentiment data from the survey points to sales volumes gaining impetus, both in the near-term and over the next twelve months.”

This trend is further influenced by some landlords listing their properties for sale before potential CGT rises. Unfortunately for renters, the continuing squeeze on supply will likely mean further rent rises and difficulties finding property.