Things just went from worst to worst-er in Britain's property market. Having detailed the numerous 'dominoes' that have begun to fall, and most recently the start of forced real asset liquidations, the hard data from Britain's Royal Institute of Chartered Surveyors suggests Brexit just killed the British housing market.
Having previously shown the following chart as an example of the 'liquidity gap' between fund-level liquidations and the exuberant UK real estate market, things could get ugly very quickly…
But things are about to get a lot worse… Here are three charts that no UK Property fund manager wants their investors to see…
New Vendor Instructions (roughly translated as pending home sales) has crashed by the most ever…
"Hope" has collapsed with National Sales Expectations for the next 3- and 12-months are the worst on record…
And Price expectations have plunged…
Simply put, as RICS concludes, this is the "most negative reading for near term expectations since 1998."
via http://ift.tt/29Faldz Tyler Durden