RICS Residential Market Survey July 2026

Sales market remains subdued, with limited signs of recovery

New buyer enquiries remained at -28% in July, unchanged from June, but improved from the recent low of -41% in March.
Agreed sales remained at -30%, unchanged from June but less negative than -37% in April.
Near-term sales expectations improved to -14%, becoming gradually less pessimistic over the past four surveys.
Twelve-month sales expectations improved to +3%, the most positive reading since February.

Supply pipeline shows some improvement

New vendor instructions improved sharply to -4% in July, from -23% previously.
Market appraisals increased to +19% YoY, although RICS noted that the near-term pipeline of sales listings remains relatively tight.

House prices under pressure

The headline house price balance improved slightly to -30% in July, from -32% in June and a recent low of -35% in April.
Price weakness remained more pronounced in London, the South West and South East, while Northern Ireland continued to report rising prices and Scotland's previously strong trend showed signs of flattening.
Near-term price expectations stood at -31%.
Twelve-month price expectations eased to +4%, from +8% previously, while London's year-ahead outlook weakened to -23% from -10%.

Rental demand stalls

Tenant demand fell to -1% in the three months to July, from +12% previously, pointing to broadly stagnant demand.
New landlord instructions remained weak at -27%, with no signs of improvement in rental supply.
Near-term rental price expectations remained positive at +28%, broadly unchanged from recent readings of +25% and +29%, as upward pressure on rents remain.