The RICS UK Residential Market Survey showed the house price balance fell to -12% in February 2026 from -10% in January, marking the first decline in four months and missing market expectations for an improvement to -9%. Respondents in London (-40%), the South East (-24%), and East Anglia (-26%) reported greater downward pressure compared with the national average. In contrast, Northern Ireland and Scotland continue to see rising prices, while the North West of England is also experiencing gains. Looking ahead, near-term headline price expectations returned to negative territory, with the aggregate net balance dropping to -18% from -6%. Over the next twelve months, a net balance of +33% of contributors expect house prices to edge higher, though this is down from +43% last month. The shift in sentiment is particularly notable in London, where the twelve-month expectations net balance has flattened sharply to +7% from +56% previously. source: Royal Institution of Chartered Surveyors (RICS)

RICS House Price Balance in the United Kingdom decreased to -12 percent in February from -10 percent in January of 2026. RICS House Price Balance in the United Kingdom averaged 14.36 percent from 1978 until 2026, reaching an all time high of 100.00 percent in January of 1978 and a record low of -92.32 percent in April of 2008. This page includes a chart with historical data for the United Kingdom RICS House Price Balance. United Kingdom RICS House Price Balance - data, historical chart, forecasts and calendar of releases - was last updated on March of 2026.

RICS House Price Balance in the United Kingdom decreased to -12 percent in February from -10 percent in January of 2026. RICS House Price Balance in the United Kingdom is expected to be -2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom RICS House Price Balance is projected to trend around 8.00 percent in 2027 and 12.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-02-12 12:01 AM
RICS House Price Balance
Jan -10% -13% -11% -12.0%
2026-03-12 12:01 AM
RICS House Price Balance
Feb -12% -10% -9% -8.0%
2026-04-09 11:01 PM
RICS House Price Balance
Mar -12% -2.0%


Related Last Previous Unit Reference
Average House Prices 301151.00 300283.00 GBP Feb 2026
Construction Orders YoY 28.60 30.50 percent Dec 2025
Construction Output YoY -0.20 -0.30 percent Jan 2026
Mortgage Lending 4076.00 4492.00 GBP Million Jan 2026
Home Ownership Rate 64.50 64.70 percent Dec 2023
Halifax House Price Index MoM 0.30 0.80 percent Feb 2026
Halifax House Price Index YoY 1.30 1.00 percent Feb 2026
Housing Index 519.30 517.80 points Feb 2026
Housing Starts 29620.00 29650.00 units Sep 2025
Mortgage Approvals 60.00 61.01 Thousand Jan 2026
BBA Mortgage Rate 6.59 6.62 percent Feb 2026
Nationwide Housing Prices 545.00 540.40 points Feb 2026
Nationwide Housing Prices MoM 0.30 0.30 percent Feb 2026
Nationwide Housing Prices YoY 1.00 1.00 percent Feb 2026
Price to Rent Ratio 111.46 111.34 Sep 2025
Private Rental Prices YoY 3.50 4.00 percent Jan 2026
Residential Property Prices 2.96 2.83 Percent Sep 2025
RICS House Price Balance -12.00 -10.00 percent Feb 2026


United Kingdom RICS House Price Balance
The Royal Institution of Chartered Surveyors (RICS) House Price Balance measures the percentage of surveyors reporting a house price rise in their designated area, minus those reporting a fall. A level above 0% indicates more surveyors reported a rise in prices; below indicates more reported a fall.
Actual Previous Highest Lowest Dates Unit Frequency
-12.00 -10.00 100.00 -92.32 1978 - 2026 percent Monthly

News Stream
UK House Price Balance Below Forecasts
The RICS UK Residential Market Survey showed the house price balance fell to -12% in February 2026 from -10% in January, marking the first decline in four months and missing market expectations for an improvement to -9%. Respondents in London (-40%), the South East (-24%), and East Anglia (-26%) reported greater downward pressure compared with the national average. In contrast, Northern Ireland and Scotland continue to see rising prices, while the North West of England is also experiencing gains. Looking ahead, near-term headline price expectations returned to negative territory, with the aggregate net balance dropping to -18% from -6%. Over the next twelve months, a net balance of +33% of contributors expect house prices to edge higher, though this is down from +43% last month. The shift in sentiment is particularly notable in London, where the twelve-month expectations net balance has flattened sharply to +7% from +56% previously.
2026-03-12
UK House Price Balance Improves in January
The RICS UK Residential Market Survey showed the house price balance rose to -10% in January 2026 from a revised -13% in December, marking a third straight monthly improvement and the strongest reading since June. The outturn also came in above market expectations of -11%, adding to signs of a tentative recovery in the housing market. Regional disparities remain pronounced as Northern Ireland and Scotland continued to report price gains, while respondents in the North West and the North of England indicated that prices are trending higher. In contrast, net balances in London, the South West, the South East and East Anglia remained more negative than the national average, though each region saw a moderation in the pace of decline. Commenting on the data, RICS Chief Economist Simon Rubinsohn said: “There are early signs that market conditions may be improving after a challenging period, although activity levels are still subdued, meaning any recovery is likely to be gradual.”
2026-02-12
UK House Price Balance Steadies in Dec
The RICS UK Residential Market Survey showed the house price balance held at -14% in December 2025, unchanged from November but slightly improved from the recent low of 19% in October. While this still points to a modest national decline in prices, the trend appears to be stabilizing. London and the South East continue to underperform, with net balances of -42% and -32% respectively, indicating steeper price falls than the national average. By contrast, prices in Scotland and Northern Ireland are still rising. The forward looking picture has improved, with the three month outlook now broadly flat as the headline net balance rose to -6% from -14% previously. Looking further ahead, a net balance of +35% of respondents now expects prices to return to growth over the next year, up from +16% in October and +24% in November.
2026-01-15