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

Breaking News

First-time buyers face highest hurdle in England

The latest research from Yopa has found that while first-time buyers in England continue to face the highest cost of getting a foot on the property ladder, at £27,807, it’s their Scottish counterparts who have seen this cost rise by the largest margin over the last year, increasing by 5.5%. Yopa analysed* the current cost…
Read More →
Breaking News

Rental price and average salary tracker – January 2026

Seasonal cooling deepens regional rent declines, while affordability pressures remain structurally high Month-on-month rental prices fell across the majority of regions, with particularly pronounced drops in the North East (−10.0%), South West (−8.1%), Yorkshire and Humberside (−7.4%), and Wales (−6.1%), highlighting a clear seasonal slowdown as demand softens post-Christmas. Year-on-year salary requirements show only modest…
Read More →
how to present your property for sale
Breaking News

Property values hit £300k for first time

The latest Halifax House Price Index for January 2025. On a monthly basis, house prices increased by 0.7% between December and January, reversing the decline of -0.5% seen between November and December of last year.   Annually, house prices were up 1% versus this time last year, with this annual rate of growth accelerating when…
Read More →
Breaking News

Average UK house price rises at the start of 2026

• House prices increased by +0.7% in January, following a -0.5% fall in December • Average property price is now £300,077, rising above £300k for the first time • Annual growth at +1.0%, up from +0.4% in December • Regional differences in house price performance have become more pronounced   Amanda Bryden, Head of Mortgages,…
Read More →
Estate Agent Talk

London basements boost value by up to 20%

The latest market analysis by prime London property brokerage, Jefferies London, reveals that London homebuyers who want to secure a property with a basement face a tough task. Not only do these much sought-after spaces increase a property’s value by up to 20%, but they’re also incredibly rare, found in only 2% of the capital’s…
Read More →
Breaking News

Bailey applies the brakes but ‘two more 2026 cuts priced in’

Vote to hold rates ‘closer than expected’ as Bank of England eyes April for 2% inflation target Focus turns to US and Japan in impact they play on shape of global investment flows says Rathbones’ Head of Market Analysis Kirsten Pettigrew, Senior Financial Planner, warns of making financial decisions based on speculation around rate trajectories…
Read More →