United Kingdom RICS House Price Balance

The RICS UK Residential Market Survey house price balance, which measures the gap between the percentage of respondents seeing rises and falls in house prices, jumped to +11% in September 2024, up from readings of zero and -16% in August and July, respectively. The latest figure also exceeded forecasts for an improvement to +4% and ended a run of negative or flat returns stretching back to October 2022. When disaggregated, most parts of the UK are now seeing house prices rise to a certain degree, although the picture remains a little weaker compared to the national average in the West Midlands, South West and East Anglia for the time being.