Dec 12 Reuters Britain39;s housing market strengthened further in November although uncertainty over the economic outlook could curtail activity in the months ahead, according to a survey on Thursday from the Royal Institution of Chartered Surveyors.

RICS39; monthly house price gauge jumped to 25 in November from 16 in October, its highest level since September 2022. A Reuters poll of economists had pointed to a reading of 19.

Mortgage lenders Nationwide and Halifax also reported a sharp pickup in house prices during November and Bank of England data showed lenders in October approved the most mortgages for house purchases since August 2022.

However, RICS said sales might slow next year as consumer and business confidence appeared to be weakening and markets had scaled back their expectations of BoE rate cuts, pushing up mortgage costs.

Although the latest survey results continue to signal a steady improvement in buyer demand across the residential market, the broader macro environment is likely to pose additional headwinds moving forward, RICS senior economist Tarrant Parsons said.

The recent rise in mortgage interest rates may curtail the recovery in market activity before long, and this is reflected in the slightly less optimistic sales expectations data coming through this month, he added.

Online property portal Rightmove said on Thursday it was more positive about the outlook for 2025. It expected asking prices to rise by 4 in 2025, its highest prediction…