The RICS UK Residential Market Survey showed that the house price balance deteriorated to -32% in September 2026 from -28% in August, which was the highest in five months and worse than market expectations of -30%. It was the lowest figure since June and ended a four-month period during which the indicator had been becoming progressively less negative. The net balance for new buyer enquiries fell to -22%, while the sales expectations balance declined to -6%. London reported a weaker price balance than the national figure, while the North price balance continued to rise. The three-month house price expectations balance stood at -24%, signalling expectations of further near-term pressure, but stabilisation over a 12-month horizon. “A renewed rise in interest rate expectations has created a fresh headwind for the housing market, with buyers becoming a little more cautious and sales activity losing some momentum this month,” said RICS Head of Market Research and Analysis Tarrant Parsons.