House prices remain flat nationally according to latest RICS UK residential market survey report.

October 11, 2018

Latest RICS UK Residential Market Survey – September 2018 headlines ‘Weak sales outlook causing new homebuyers cold feet.’

The report reveals that demand from new buyers nationally has weakened slightly for the second successive month, making the forward-looking sales indicators also turn a little more pessimistic.

Prices remain flat nationally with regional variations still very pronounced and volume of fresh listings continues to fall in both the sales and lettings markets according to RICS.

Simon Rubinsohn,  RICS Chief Economist  said:

“There are a number of themes running through the comments of respondents this month but uncertainty relating to Brexit negotiations is at the very top of the list followed by references to the confidential remarks made by the Bank of England Governor to the cabinet. All of this is not surprisingly taking its toll on the sales market with the key activity indicator in the survey flat or slightly negative in all parts of the country apart from Northern Ireland and Wales.

“That said, the recent announcement from the Prime Minister that the Housing Revenue Account borrowing cap will be abolished is a bold move which over the time could help address some of the very real challenges facing those looking to buy or rent property. There is no silver bullet that will immediately resolve this problem but encouraging new entrants to deliver affordable homes is certainly part of the answer.”

Read the Latest RICS UK Residential Market Survey – September 2018 in full click here.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

One in five homebuyers have been ‘catfished’

The latest research from House Buyer Bureau has found that, with the rise of A.I, “homebuyer catfishing” is becoming an increasingly familiar experience for UK buyers, with one in five saying they viewed a property where the listing photos had been digitally enhanced to make the home appear better than it actually was. However, while the…
Read More →
Letting Agent Talk

Only 31% of letting agents confident their onboarding process protects against tenancy fraud

The latest research from Propoly has revealed that just 31% of UK letting agents are absolutely confident that their tenant onboarding process protects against tenancy fraud, as lengthy onboarding times and delays with referencing continue to create challenges for the industry.   Propoly surveyed UK letting agents to understand how long tenant onboarding currently takes,…
Read More →
Breaking News

Are first-time buyers ruling themselves out before they even apply?

New report reveals widespread mortgage myths, with more than half wrongly thinking existing debt rules out being approved More than a third of potential first-time buyers (37%) worry about being rejected for a mortgage Over half (53%) have delayed major life milestones while trying to buy their first home, including getting married and having children…
Read More →
Breaking News

Housing Insight Report: June 2026

June’s housing market remained active, but buyers and renters continued to show caution. Buyer registrations dipped, while sales agreed remained broadly stable. In lettings, demand continued to outstrip supply, with nine applicants per available property. The average number of new prospective buyers registered per member branch dipped during June 2026, with an average of 55.…
Read More →
Breaking News

Private rent and house prices, UK: August 2026

Main points Average UK monthly private rent increased by 3.7%, to £1,393, in the 12 months to July 2026 (provisional estimate); this annual growth rate is up from 3.3% in the 12 months to June 2026. Average rents increased to £1,451 (3.8%) in England, £843 (4.5%) in Wales, and £1,016 (1.7%) in Scotland, in the…
Read More →
Breaking News

Scrapping Stamp Duty could unlock 300,000 extra home moves a year

Economic growth in key regions, such as around Cambridge and the ‘tech corridor’ being held back by stagnant housing market. Rathbones argues that a more mobile housing market could help unlock part of the UK’s £5.5 trillion housing wealth.   Reforming Britain’s property tax system could unlock more than 300,000 additional housing transactions each year…
Read More →