By Suban Abdulla

LONDON (Reuters) -British house prices showed the most widespread falls in more than a year-and-a-half in August as new buyer demand weakened against a backdrop of a weak economy, high inflation and uncertain interest rate outlook, a survey showed on Thursday.

The Royal Institution of Chartered Surveyors’ house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, fell to -19 in August from -13 in July, its weakest since January 2024 when it stood at -23.

Thursday’s house price balance was below the -10 forecast in a Reuters poll of economists and contrasts with a slightly more upbeat picture for July from mortgage lenders Halifax and Nationwide, who both reported prices broadly flat on the month and up

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