UK House Prices Rise for First Time in Nearly Two Years

Surveyors report increased market activity and a positive shift in house price growth amid recent mortgage rate cuts.

The Royal Institution of Chartered Surveyors (RICS) reported a net balance of 1% of professionals seeing house prices rise in August, the first increase since October 2022.
A net balance of 14% of surveyors expect house prices to continue rising over the next three months, indicating improved market sentiment.
Mortgage rates have been cut by many lenders, and the Bank of England reduced its base rate from 5.25% to 5% in early August.
Despite the positive trends in the housing market, affordability remains a significant issue, particularly in the rental sector where demand continues to outstrip supply.
A survey by KPMG found that nearly half of UK adults would prefer low-carbon homes, driven by motivations to reduce bills and address climate change.