Monthly demand for properties has finally risen after months of being in a malaise, the UK Residential Market Survey from the Royal Institution of Chartered Surveyors has found.
New buyer enquiries rose by a net 3% in June, the first time it’s moved out of negative territory since December 2024.
Near-term expectations for sales volumes have turned marginally positive, with a net balance of +6%, up from -2% in May.
However most expected the market to be steady and unspectacular, with a +5% expecting to see rising sales volumes in the next 12 months.
Tarrant Parsons, RICS head of market research & analysis, said: “The UK residential market appears to be entering a more settled phase, with demand showing signs of stabilising following a period of volatility.
“The earlier distortion caused by transactions being brought forward ahead of the Stamp Duty changes now appears to have largely dissipated, allowing underlying trends to re-emerge.
“Encouragingly, near-term sales expectations have begun to edge higher, pointing to a modest shift in sentiment.
“That said, confidence in the market remains somewhat delicate, with economic uncertainty at both the domestic and global level still seen as a potential headwind. “
Nationally, house prices continue to follow a flat to marginally negative trend, with the net balance for June remaining at -7%.
There is significant regional variation in price activity. The South East, East Anglia, and London have seen a more pronounced decline in prices, while Northern Ireland, the North West, Scotland, and the East Midlands experienced clear growth.
