Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.

RICS Survey Predicts Subdued UK Home Sales Over Next Year

Estate agents in the UK are expected to face subdued transaction volumes over the next 12 months, according to the latest data from the Royal Institute of Chartered Surveyors (RICS). The organisation’s monthly housing survey indicates that while the market may be past its lowest point, any improvement remains fragile.

New buyer enquiries remain negative at -29%, which is a slight improvement from the -34% recorded in the previous two months and marks the least negative reading since February. Newly agreed sales also stayed subdued at -32%, compared with -35% previously. Near-term sales expectations improved to -16%, up from a recent low of -34% in March.

Looking ahead, RICS survey respondents expect sales volumes to remain broadly flat over the next year, with a positive net balance of 1%. Nationally, house prices continue to face downward pressure, with the headline price balance at -33%, which is broadly unchanged from recent months.

The survey notes that housing market activity is likely to remain relatively subdued in the near term. Factors such as political uncertainty and the outlook for interest rates are cited as weighing on market sentiment.

For letting agents and inventory clerks, these findings suggest that the UK property market is likely to see continued caution among buyers and sellers, with limited movement in both sales and prices over the coming months.