New home sales in the US increased in May, while housing sales in London showed the lowest increase of the last five years

According to the data of the US Department of Commerce, new home sales rose by 2.9% in annual level and reached the level of 610,000 in May.

The expectation of the financial specialists taking place in the survey of Bloomberg was about 3.7%. Average housing prices increased by 16.8% year-on-year level and came to a record level of $ 345,800.

Low mortgage rates, strict employment market and rising wages supported the housing sector. Meanwhile, April housing sales data was revised from 569 to the level of 593.

On the other hand, housing prices in London recorded the slowest increase in five years with a reduction in demand because of the uncertainty in politics and economics of Brexit period. New home sales in the United States increased in May, while housing sales in the United Kingdom showed the lowest increase of the last five years

According to the statement of Hometrack, housing prices recorded the slowest increase since March 2012 with an increase of 3.3 percent from the same period of the previous year. Housing prices rose 13 percent in the 12 months period until May 2016.

When uncertainty due to Brexit negotiations and the economic impact of the Brexit process are taken into account, the housing prices in the United Kingdom needs at least three years starting from next year to match the amount that the demand can afford.

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