FX.co ★ UK House Price Balance Falls to 9-Month Low

The UK Residential Market Survey conducted by RICS has disclosed that the house price balance, which measures the discrepancy between respondents observing price increases versus those noticing declines, stood at -3% in April 2025. This marks the lowest point in nine months. The April figure also signifies the first negative reading in the current sequence, a shift from the +2% recorded in March. However, it surpassed market expectations, which anticipated a -5% reading. This downturn coincides with the conclusion of a temporary stamp duty holiday at the end of March, which had previously stimulated transaction volumes as buyers hurried to finalize deals. RICS Chief Economist Simon Rubinsohn noted: "While geopolitical developments have influenced market sentiment in the housing sector over the past month, the primary factor for the recent dip in RICS' key sales activity indicators is indeed the end of the stamp duty holiday." Looking forward, RICS members predict that lower interest rates will bolster house prices in the coming year, although the short-term outlook remains cautious.