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. source: Royal Institution of Chartered Surveyors (RICS)

RICS House Price Balance in the United Kingdom remained unchanged at -14 percent in December. RICS House Price Balance in the United Kingdom averaged 14.44 percent from 1978 until 2025, 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 February of 2026.

RICS House Price Balance in the United Kingdom remained unchanged at -14 percent in December. 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
2025-12-11 12:01 AM
RICS House Price Balance
Nov -16% -19% -21% -20.0%
2026-01-15 12:01 AM
RICS House Price Balance
Dec -14% -14% -16% -16.0%
2026-02-12 12:01 AM
RICS House Price Balance
Jan -14% -11% -12.0%


Related Last Previous Unit Reference
Average House Prices 300077.00 297938.00 GBP Jan 2026
Construction Orders YoY 29.30 -11.90 percent Sep 2025
Construction Output YoY -1.10 0.90 percent Nov 2025
Mortgage Lending 4601.00 4593.00 GBP Million Dec 2025
Home Ownership Rate 64.50 64.70 percent Dec 2023
Halifax House Price Index MoM 0.70 -0.50 percent Jan 2026
Halifax House Price Index YoY 1.00 0.40 percent Jan 2026
Housing Index 517.50 513.80 points Jan 2026
Housing Starts 29620.00 29650.00 units Sep 2025
Mortgage Approvals 61.01 64.07 Thousand Dec 2025
BBA Mortgage Rate 6.62 6.77 percent Jan 2026
Nationwide Housing Prices 540.40 540.80 points Jan 2026
Nationwide Housing Prices MoM 0.30 -0.40 percent Jan 2026
Nationwide Housing Prices YoY 1.00 0.60 percent Jan 2026
Price to Rent Ratio 111.46 111.34 Sep 2025
Private Rental Prices YoY 4.00 4.40 percent Dec 2025
Residential Property Prices 2.96 2.83 Percent Sep 2025
RICS House Price Balance -14.00 -14.00 percent Dec 2025


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
-14.00 -14.00 100.00 -92.32 1978 - 2025 percent Monthly

News Stream
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
UK House Price Balance Unexpectedly Improves in Nov
The RICS UK Residential Market Survey showed the house price balance improving to -16% in November 2025 from -19% in October, defying expectations for a further decline to -21% and suggesting that the downward trend may be stabilizing. Regional divergences remained pronounced as London’s net balance fell to -44%, now the weakest of any UK region, with the recently announced tax on higher-value homes likely adding pressure to the capital’s market. In contrast, respondents in Northern Ireland and Scotland continued to report rising prices. Near-term price expectations were broadly steady, with a national net balance of -15% versus -12% previously. Twelve-month expectations edged higher, with a net balance of +24% of contributors anticipating price gains over the coming year, the strongest reading since June. This positive outlook was evident across most regions, except East Anglia, where sentiment remained comparatively subdued.
2025-12-11
UK House Price Balance Misses Forecast
The RICS UK Residential Market Survey showed the house price balance slipped to -19% in October 2025 from a downwardly revised -17% in September, missing forecasts for an improvement to -14%. The figure continues to signal mild downward pressure on overall house prices. Regionally, the decline was most evident in the South East, London, and East Anglia, where price net balances remained weaker than the national average. Looking ahead, prices are expected to soften slightly over the next three months, with a forward-looking net balance of -12%. Still, the latest reading is less pessimistic than the -21% seen previously, suggesting only a modest near-term dip. Over a twelve-month horizon, however, sentiment is more upbeat, with a net 16% of respondents anticipating a return to price growth nationwide.
2025-11-13