RICS UK Residential Market Survey update - June 2023

A more mixed outlook than last month

The latest RICS UK Residential Market Survey for June 2023 is out and is showing a more mixed picture than last month, likely due to continued interest rate rises creating uncertainty amongst buyers and movers.

House prices in Northern Ireland and Scotland have both increased in the past 3 months, compared to all regions of England where prices have fallen. However, this is likely due to low supply as new buyer enquiries, new vendor instructions and newly agreed sales have both decreased in the past month.

Prices are still expected to rise in Northern Ireland in the next 3 months but it is anticipated that sales volumes will be down. 

You can read the full UK Residential Market Survey for June 2023 here https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey

27 July 2023