The RICS UK Residential Market Survey showed that a net balance of +53 of respondents cited an increase in house prices in August 2022 compared to a downwardly revised +62 in July, as recession fears and rising interest rates weighed on markets. This was the lowest reading since January 2021 and posted well below market forecasts for it to hold around +61. The report also showed that a survey balance for sales expectations over the next 12 months, which measures the difference between the percentage of surveyors expecting a rise and those expecting a fall, sank to -45 in August from -36 in July, the lowest reading since the survey started in 2012. Tarrant Parsons, a RICS economist said: “Concerns over the economic backdrop and rising interest rates continue to take their toll on market momentum, with strong activity early in the year now giving way to a more subdued picture.” source: Royal Institution of Chartered Surveyors (RICS)

RICS House Price Balance in the United Kingdom averaged 16.85 percent from 1978 until 2022, reaching an all time high of 100 percent in January of 1978 and a record low of -92.33 percent in April of 2008. This page includes a chart with historical data for the United Kingdom RICS House Price Balance. United Kingdom RICS House Price Balance - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.

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United Kingdom RICS House Price Balance



Calendar GMT Actual Previous Consensus TEForecast
2022-08-10 11:01 PM Jul 63% 65% 60% 61%
2022-09-07 11:01 PM Aug 53% 62% 61% 61%
2022-10-12 11:01 PM Sep

United Kingdom RICS House Price Balance
The Royal Institution of Chartered Surveyors (RICS) House Price Balance measures the percentage of surveyors reporting a house price rise in their designated area, minus those reporting a fall. A level above 0% indicates more surveyors reported a rise in prices; below indicates more reported a fall.
Actual Previous Highest Lowest Dates Unit Frequency
53.00 62.00 100.00 -92.33 1978 - 2022 percent Monthly

News Stream
UK House Price Balance Falls on Economic Concerns
The RICS UK Residential Market Survey showed that a net balance of +53 of respondents cited an increase in house prices in August 2022 compared to a downwardly revised +62 in July, as recession fears and rising interest rates weighed on markets. This was the lowest reading since January 2021 and posted well below market forecasts for it to hold around +61. The report also showed that a survey balance for sales expectations over the next 12 months, which measures the difference between the percentage of surveyors expecting a rise and those expecting a fall, sank to -45 in August from -36 in July, the lowest reading since the survey started in 2012. Tarrant Parsons, a RICS economist said: “Concerns over the economic backdrop and rising interest rates continue to take their toll on market momentum, with strong activity early in the year now giving way to a more subdued picture.”
2022-09-08
UK House Price Balance Drops to 17-Month Low
The RICS UK Residential Market Survey showed that a net balance of 63% of respondents cited an increase in house prices in July 2022 compared to 65% in June, the lowest since February 2021, as the housing market grapples with a worsening economic outlook and rising interest rates. The Bank of England delivered its biggest rate hike since 1995 last week, and warned that the UK may be entering a long recession. Meanwhile, the July figure remained well above the survey’s long-run average of 13% and came in above expectations of a bigger fall to 60%. Looking ahead, twelve-month price expectations slid to -36% in July from -21% in the previous month, the lowest reading since the onset of the Covid-19 pandemic in March 2020.
2022-08-10