UK House Price Indicator Unchanged in April

The RICS UK Residential Market Survey house price balance, which measures the gap between the percentage of respondents seeing rises and falls in house prices, remained unchanged at -5% in April 2024.

The latest reading signaled a largely stable trend in house prices at the aggregate level, but missed forecasts for an improvement to -2%.

Virtually all parts of England returned either a flat or marginally negative reading for the house price series.

By way of contrast, both Northern Ireland and Scotland continue to see an upward trend in house prices.

Looking ahead, the three-month outlook for house prices slipped to -13%, while the twelve-month outlook remain consistent with house prices returning to growth at the aggregate level, posting a net balance of +38%.

When broken down, all parts of the UK are anticipated to see some uplift in house prices over the coming year.