Subdued Housing Market May Be Starting To Stabilise Surveyors

The downturn in housing market activity may potentially be starting to stabilise, according to surveyors.

A net balance of 34% of property professionals reported in May that new buyer inquiries were falling rather than rising, the Royal Institution of Chartered Surveyors (Rics) said.

While this continued to point to weaker housing market demand, it was the first time since January that demand had not moved further into negative territory.

The fall in agreed sales was also unchanged in May, with a net balance of 37% of professionals seeing sales fall.

The unchanged reading suggests the pace of decline is no longer intensifying, Rics said.

But it also said that sales are taking longer to complete, with the average time from listing to completion sitting at 21.5 weeks – the longest time since Rics started recording these particular figures in 2017.

House prices are also falling overall, with a net balance of 35% of professionals seeing falls.

Professionals in the South East and East Anglia reported more pronounced downward pressure on prices, while those in Northern Ireland continued to see firm price growth, Rics said.

Looking to 12 months’ time, a small balance of 2% of professionals expect to see sales pick up.

And while house prices are also expected to fall overall in the next three months, a balance of 6% of surveyors expect prices to be higher in the year ahead.

Mortgage rates jumped amid economic uncertainty prompted by the conflict in the Middle East, but in recent weeks some lenders have been cutting rates.

Rics said the rental market also remains under pressure, with rising demand from tenants and falling landlord instructions.

Published: 11/06/2026 by Radio NewsHub