UK House Price Balance Improves in January

The RICS UK Residential Market Survey showed that the house price balance edged up to -30% in July 2026 from -32% in June, remaining firmly negative as buyer demand and agreed sales continued to struggle for momentum. New buyer enquiries and agreed sales were both unchanged from June, at -28% and -30%, respectively, pointing to limited improvement in market activity. New vendor instructions improved sharply to -4% from -23%, although the pipeline of new listings remained constrained. London, the South East and South West continued to report the weakest price balances, while Northern Ireland remained an outperformer. Looking ahead, three-month price expectations stayed weak at -31%, while the 12-month outlook turned slightly positive at +4%. Sales expectations also improved, with the 12-month balance rising to +3%. In the rental market, landlord instructions remained weak at -27%, keeping supply constrained, while 28% of respondents expected rents to rise over the next three months.

The RICS UK Residential Market Survey showed that the house price balance edged up to -33% in June 2026 from -34% in May, pointing to only tentative signs of improvement despite the recent easing in global geopolitical tensions and the decline in oil prices. New buyer enquiries rose to -29% from -34%, the least negative reading since February, while the agreed sales balance improved to -32% from -35%, pointing to a gradual easing in market weakness. Meanwhile, new instructions to sell fell sharply to -23% from -10%, marking the weakest reading in over a year and signaling a tighter supply pipeline. Regionally, the South East and South West remained under the greatest price pressure, while Northern Ireland and Scotland continued to outperform. Looking ahead, the three-month house price expectations index improved to -32% from -44%, while the 12-month outlook turned slightly more optimistic at +8%, reflecting modest price growth over the coming year.

The RICS UK Residential Market Survey showed that the house price balance remained at -35% in May 2026, unchanged from a slightly upwardly revised April reading. This came in above market expectations of -31% and still marked the weakest level since November 2023, despite emerging signs of stabilization. New buyer enquiries steadied at -34%, marking the first month since January in which demand did not deteriorate further, while the agreed sales balance was unchanged at -37%, suggesting the recent slowdown in transactions may be losing momentum rather than accelerating. Regionally, the South East and East Anglia continued to experience greater downward pressure on prices, while Northern Ireland remained a notable outperformer with prices still rising firmly. Looking ahead, the near-term house price expectations index fell to a net balance of -45% in May at the UK-wide level, down sharply from -39%, pointing to further softness over the coming months.