The RICS UK Residential Market Survey reported that the national house price balance weakened to -32% in September 2026, down from -28% in August. August’s reading had been the least negative in five months, and September’s outcome came in below market expectations of -30%. It also marked the sharpest decline in prices since June, bringing to an end a four‑month period in which the indicator had been gradually improving.
Regionally, London posted a weaker price balance than the UK as a whole, while the North continued to see modest price growth. Looking ahead, the three‑month house price expectations balance registered at -24%, pointing to expectations of further near‑term downward pressure on prices.
“A renewed rise in interest rate expectations has created a fresh headwind for the housing market, with buyers becoming a little more cautious and sales activity losing some momentum this month,” said Tarrant Parsons, RICS Head of Market Research and Analysis.
