FX.co ★ UK House Price Balance Unexpectedly Improves in Nov

The recent RICS UK Residential Market Survey indicates a slight improvement in the house price balance, climbing to -16% in November 2025 from -19% in October. This contravenes the predicted further drop to -21%, hinting that the downward trend in house prices might be reaching a point of stabilization. Despite this, regional variations remain stark. London's net balance notably decreased to -44%, marking it as the weakest amongst all UK regions. This decline is likely exacerbated by the newly implemented tax on higher-value properties, adding additional strain to the capital's housing market. In contrast, respondents in Northern Ireland and Scotland continued to observe rising house prices. Short-term price expectations remained relatively stable, with the national net balance at -15%, compared to -12% previously. Looking forward over the next twelve months, anticipations were slightly more positive, with a net balance of +24% of contributors forecasting price increases in the coming year—the most optimistic outlook since June. This positive sentiment was shared across most regions, albeit with East Anglia exhibiting a more restrained outlook.