Overview
- The RICS survey for April showed its house price balance at -34, the weakest reading since November 2023.
- Pressure was heaviest in London and the South, while prices still edged up in Scotland and Northern Ireland.
- Markets now expect two to three Bank of England rate increases this year, which would lift mortgage rates and squeeze affordability.
- Surveyors reported falls in new buyer enquiries and agreed sales, pointing to fewer transactions in the months ahead.
- Rents kept rising as tenant demand outpaced supply and landlord listings fell, leaving renters with fewer options.