Overview

• RICS’ house price balance fell to -19 in August from -13 in July, the weakest reading since January 2024.
• New buyer enquiries declined to a net -17 and agreed sales to -24, with new seller instructions turning slightly negative for the first time since June 2024.
• Price weakness is uneven across regions, with larger declines in East Anglia and the South West, while Northern Ireland recorded gains.
• Rental supply tightened as landlord instructions dropped to a net -37%, the steepest fall since April 2020, pointing to further rent increases in the near term.
• The survey’s downbeat picture contrasts with Halifax and Nationwide data showing broadly flat monthly prices and roughly 2% annual growth.