9th Jul 2026 01:10
(Alliance News) - UK house prices faced continued downward pressure in June, although survey results suggest there are signs of stabilisation, the Royal Institution of Chartered Surveyors reported Thursday.
The net balance for house prices, which represents the proportion of survey respondents reporting an increase in prices minus those reporting a fall, improved to minus 33% in June from minus 34% in May, which was revised up from minus 35% initially.
A net balance of minus 30% was expected for June according to the FXStreet-cited consensus forecast.
"While the indicator continues to point to modest downward pressure on prices at the national level, the trend appears to be stabilising rather than deteriorating further.
"At the regional level, the South East and South West of England continue to exhibit noticeably more negative net balances than the UK average. By contrast, respondents in Northern Ireland and, to a lesser extent, Scotland continue to report that house prices are following an upward trajectory," Rics explained.
Additionally, a net balance of minus 32% was recorded for agreed sales in June, improving from minus 35% in May, which was revised up from minus 37% originally.
The net balance for near-term sales expectations improved to minus 16% from minus 25% previously.
Looking ahead to the twelve-month horizon, the net balance for sales expectations fell to plus 1% from plus 2%.
"The June 2026 Rics UK residential market survey points to only tentative signs of improvement, despite the recent easing in global geopolitical tensions and the associated unwinding in oil prices.
"That said, anecdotal remarks from respondents suggest that domestic political uncertainty is emerging as another headwind for the market. Overall, activity indicators remain subdued, although the pace of deterioration appears to be moderating," Rics said.
The monthly Rics sentiment survey of chartered surveyors operating in the residential sales and lettings market covered 420 branches and 220 responses.
By Elijah Dale, Alliance News senior reporter Asia-Pacific
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