The UK housing market is showing signs of life! According to the latest RICS UK Residential Market Survey, while the market's been a bit of a damp squib recently, there's a glimmer of hope on the horizon.
June's numbers reveal that new buyer enquiries are still in the negative, but the gloom is lifting ever so slightly. With a net balance of -29%, it's a step up from the previous -34%. Newly-agreed sales are also creeping up, though still subdued at -32%. But hey, it's an improvement!
Near-term sales expectations are looking up too, with a leap from -34% in March to a more optimistic -16%. And while new instructions have taken a nosedive to -23%, it's not all doom and gloom. The headline price balance is holding steady at -33%, and there's a whisper of price rises over the next year, with a net balance of +8% of respondents expecting an uptick.
The lettings market is buzzing, with tenant demand at its highest since May 2025, and rents predicted to rise by 2.5% over the next year. However, landlord instructions remain in the red at -18%.
Tarrant Parsons from RICS notes a cautious optimism, suggesting the worst of the slowdown might be behind us. As we move forward, keeping an eye on these trends will be essential for navigating the market's twists and turns. While we're not quite out of the woods, the UK housing market is showing signs of warming up. Keep those fingers crossed for sunnier days ahead!
Want to hear more? Join Mal & Matt on the Property AI Report Podcast each week!
Access from your preferred podcast provider by clicking here
Made with TRUST_AI - see the Charter: https://www.modelprop.co.uk/trust-ai