The UK's housing market is slowing sharply

housing market to slow further during the remainder of the year, but the chronic housing shortage will prevent a significant drop in prices, according to the Royal Institution of Chartered Surveyors (RICS). Property transactions are expected to fall slightly from 1.2 million in 2017 to 1.15 million this year, mainly due to the political and economic uncertainty surrounding UK’s Brexit referendum, with buyers taking a more cautious stance.