2026.07.0823:10:22UTC+00UK Housing Market Remains Weak

The RICS UK Residential Market Survey indicated that the house price balance inched up to -33% in June 2026 from -34% in May, suggesting only tentative signs of improvement despite the recent easing in global geopolitical tensions and lower 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 overall market weakness. At the same time, new instructions to sell dropped sharply to -23% from -10%, the weakest reading in more than a year and a sign of tightening supply. Regionally, the South East and South West continued to face the strongest downward price pressures, whereas Northern Ireland and Scotland again outperformed. Looking ahead, the three-month house price expectations index improved to -32% from -44%, and the 12-month outlook turned marginally positive at +8%, indicating expectations of modest price growth over the coming year.