UK RICS house price gauge hits lowest since 2012

The Royal Institution of Chartered Surveyors' (RICS) house price balance fell to -8 in April - the weakest reading since November 2012, largely due to drop in house prices in London. 

The negative print indicates soft consumer demand.

"In London, nearly two-thirds of property surveyors said they saw prices fall rather than rise in April - the biggest proportion since February 2009", according to Reuters report.