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

Rightmove logo
Breaking News

Rightmove’s Most Searched Locations in 2025

Rightmove reveals some of the trends which defined the 2025 property market, from the most viewed homes to the most searched for locations UK’s top property hotspots: London, Manchester, and Glasgow are the most searched for locations in 2025 Capital crowns: Wimbledon, Fulham, and Chiswick are the most searched-for London spots for buyers, while Canary…
Read More →
affordable houses glasgow
Breaking News

Consistent support for apprenticeships helps construction

The Government has announced a £725 million package of reforms to the apprenticeship system, including £140m for a Mayoral pilot programme. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said: “The consistent messaging from politicians that apprenticeships should be valued as highly as degrees is fantastic and will be of great benefit…
Read More →
Christmas Decorations - Good or Bad for Selling
Estate Agent Talk

6 tips for a stress-free Christmas move

With an average of 87,000 home sales taking place during the month of December, Property DriveBuy has compiled practical advice for those due to complete this festive season, a time already known for being one of the busiest and most emotionally charged periods of the year. Despite this bringing the potential for a more stressful…
Read More →
new build homes colchester essex
Estate Agent Talk

Why 2026 could be the year the market turns

How policy, land and confidence will shape the recovery By Tim Foreman, Managing Director of Land and New Homes, LRG In property sales there are people who need to move and people who want to move. In the last few years, only those who have had to move have been active. Once conditions improve, those…
Read More →
Estate Agent Talk

Why Dumpster Rentals Simplify DIY Kitchen Demolition Projects

Taking on a DIY kitchen demolition project can be both exciting and overwhelming. Whether you’re updating your kitchen’s layout, replacing old cabinets, or knocking down walls, the demolition phase generates a significant amount of debris—everything from broken tiles and drywall to old cabinets and countertops. Managing this waste efficiently is crucial to keeping your project…
Read More →
Breaking News

Zoopla’s 2025 Year in Property: Rural dreams, fastest moving markets and an optimistic end to the year

It’s been a popular year for rural living, with a three-bed detached home in South-West Wales taking the top spot for the most viewed property. The average time to sell in 2025 was 38 days, up from 35 days in 2024. Three-bed terraced properties were the most popular property type. Falkirk in Scotland remains the…
Read More →