There are rising indicators of stabilisation within the UK property gross sales market, though challenges persist for each patrons and sellers, the Royal Establishment of Chartered Surveyors’ (RICS) UK Residential Market Survey for June 2025 has revealed.
For the primary time since December final 12 months, purchaser demand has moved out of adverse territory, with the online stability for brand new purchaser enquiries rising to +3% in June. This marks a noticeable enchancment from the -22% reported in Could, though the determine nonetheless signifies a interval of stabilisation moderately than a robust restoration.
The nationwide web stability for agreed gross sales improved considerably from earlier months, falling to -3%, a marked enchancment from the -25% and -28% reported in earlier surveys. Regardless of this constructive pattern, gross sales momentum is predicted to stay subdued within the close to time period.
Close to-term expectations for gross sales volumes have turned marginally constructive, with a web stability of +6%, a pointy distinction to the -2% recorded in Could. Nevertheless, respondents foresee a broadly flat panorama for gross sales volumes over the following 12 months, with a web stability of +5%.
New directions to promote have seen a slight decline, with the June web stability dropping to +3% from +7% in Could. Whereas this indicators a slowdown within the move of latest listings, 16% of respondents reported a rise in market value determinations in comparison with the identical interval final 12 months, indicating that provide ranges stay comparatively wholesome.
Nationally, home costs proceed to comply with a flat to marginally adverse pattern, with the online stability for June remaining at -7%. There additionally continues to be a lot regional variation in value exercise. The South East, East Anglia, and London have seen a extra pronounced decline in costs, whereas Northern Eire, the North West, Scotland, and the East Midlands skilled clear progress.
Wanting forward, respondents anticipate this barely adverse pattern on the UK-wide stage to proceed within the quick time period. Nevertheless, when requested in regards to the twelve-month outlook, 24% of survey members anticipate value will increase within the coming 12 months.
Within the lettings market, tenant demand remained largely flat, with a web stability of -2% for June. Landlord directions continued to say no, reporting a web stability of -21%. Regardless of these challenges, 24% of respondents anticipate rents to rise within the subsequent three months, though this determine is extra reasonable than final month’s +43%.
Tarrant Parsons, RICS head of market analysis & evaluation, stated: “The UK residential market seems to be getting into a extra settled section, with demand displaying indicators of stabilising following a interval of volatility. The sooner distortion attributable to transactions being introduced ahead forward of the Stamp Obligation adjustments now seems to have largely dissipated, permitting underlying traits to re-emerge.
“Encouragingly, near-term gross sales expectations have begun to edge larger, pointing to a modest shift in sentiment. That stated, confidence available in the market stays considerably delicate, with financial uncertainty at each the home and international stage nonetheless seen as a possible headwind.”
