The National RICS Price balance figure for April 2018 is the most negative since Novemner 2012

May 10, 2018

The latest RICS UK Residential Market Survey report – April 2018, released today headlines ‘Buyers enquiries and sales stabilise in April, as house prices dip’.

The report reveals that house prices at a national level dipped marginally in April, while they continue to fall in London and the South East in particular. Both new buyer enquiries and agreed sales stabilise following recent declines.

The national RICS Price balance indicator turns mildly negative in April (-8%), although this figure signals only a slight decline at this stage, it is still the most negative figure since November 2012 according to RICS.

Simon Rubinsohn, RICS Chief Economist said:

“The housing market typically tends to see a pick-up in activity at around this time of the year and the feedback from respondents to the latest survey does seem to be capturing this tone. However, once this seasonal pattern has been allowed for the underlying trend in transactions still remains broadly flat.

“Meanwhile, the impact of recent tax changes appears increasingly visible in the letting results with new instructions from landlords in the three months to end April falling again and at a faster pace than previously. Given what this says about the Buy to Let market at the present time, it is imperative that Build to Rent begins to take on a greater role to ensure those seeking to rent in private sector over the coming years have sufficient choice.”

Read the RICS UK Residential Market Survey report – April 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

Overseas Property

The most in-demand holiday home destinations

Alicante is the ideal place in the sun when it comes to Brit foreign property dreams Province on Spain’s Eastern coast is the most popular destination for Brits in TV foreign property series Almeria and the Costa Del Sol are in the top three based on analysis of 1,000 episodes of A Place In The…
Read More →
Breaking News

Two Weeks to Go for First Phase of Renters’ Rights Act

With just two weeks until the first phase of the Renters’ Rights Act comes into effect, letting agents across England are being urged to ensure they are fully prepared for the significant operational and compliance changes ahead. From 1 May 2026, the new legislation will introduce wide-ranging reforms to tenancy structures, possession processes and rent…
Read More →
Breaking News

Housing Insight Report: February 2026

The housing market shows steady activity, ongoing challenges with sales agreed rising slightly and stock levels stable, while affordability pressures and longer transaction times continue to strain buyers and sellers. Demand is strong in the rental sector, with significant competition among tenants despite only a modest increase in available properties. Rents have remained relatively stable…
Read More →
Breaking News

London boasts biggest property market gap

UK’s property price gaps exposed: London tops with £838k difference between top and bottom of the market The latest research from eXp UK has revealed the scale of the price divide between the most and least expensive property markets across each region of the UK, with three areas seeing average house price gaps of more…
Read More →
Letting Agent Talk

Questions raised over tenant-agent trust gap

New research from Propoly has found that while over half of tenants describe their letting agent as professional, quick to respond to queries, and efficient in handling maintenance issues, issues still exist, particularly a widespread suspicion that agents are not working in the tenants’ favour. Propoly commissioned a survey of 1,000 UK tenants* to understand…
Read More →
Letting Agent Talk

29 is the age house sharing becomes ‘embarrassing’

but 11% still do it, according to new Nationwide research That equates to 27 million admitting they have felt embarrassed about their living situation With 69% saying living alone is unaffordable, it’s no surprise the average age of those in house shares is 35 From moving home (12%) to living with an ex (10%), as…
Read More →