Rate hike fears weigh on UK housing market, RICS says
RICS said its house price balance fell to -32 as buyers grew cautious and new buyer enquiries weakened for the first time since March.
- On Thursday, the Royal Institution of Chartered Surveyors reported Britain's house price balance fell to-32 last month from a five-month high of-28 in August, marking the first downward pressure increase in four months.
- Tarrant Parsons, head of market research at RICS, said renewed interest rate expectations created "a fresh headwind for the housing market," with buyers becoming cautious and sales activity losing momentum this month.
- London reported the most negative price balance while Scotland and Northern Ireland saw rising prices; mortgage lender Lloyds reported unchanged September prices versus Nationwide's unexpected drop.
- Financial markets expect the BoE to raise rates in November and three more times in 2027, while Britain's Office for National Statistics reported a 3.8% annual rise in private-sector housing rents.
- RICS members expect property prices to fall further over the next three months but stabilize over a 12-month horizon, though new buyer enquiries weakened for the first time since March.
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Interest rate fears dampen UK house buying demand
Brits held off inquiring about buying new homes last month as fears over higher mortgage rates dampened the market. Housing demand dropped in September, according to a survey from the Royal Institution of Chartered Surveyors (RICS), which found that 22 per cent of property professionals saw buyer inquiries fall last month. That figure was up [...]
Rate hike fears weigh on UK housing market, RICS says
The prospect of higher interest rates weighted on Britain's housing market last month, with downward pressure on house prices increasing for the first time in four months, the Royal Institution of Chartered Surveyors said on Thursday.
Rate fears weigh on buyer confidence: RICS
Buyer demand weakened in September as fears over rising interest rates weighed on confidence, the latest Royal Institution of Chartered Surveyors survey reveals. The net balance for new buyer enquiries fell to -22%, from -18% in August, marking the first dip since March, although it…
Higher interest rate expectations weigh on UK housing market as buyer demand softens
The UK residential property market lost some momentum in September as higher interest rate expectations weighed on buyer confidence, according to the latest Royal Institution of Chartered Surveyors (RICS) UK Residential Market Survey. Buyer demand remained subdued, agreed sales continued to fall on balance, and the near-term sales outlook moved further into negative territory. Despite the setback, conditions remain less downbeat than at the year…
UK housing market momentum slows as interest rate concerns grow
The UK property market experienced a slowdown in September as rising interest rate expectations dampened buyer confidence, according to the latest RICS data. New buyer enquiries fell to -22% while house price pressures intensified, with the net balance dropping to -32%.
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