UK Residential Market Survey, December 2024 (published 10th January 2025).
What is the UK Residential Market Survey?
The UK Residential Market Survey is used by the government, the Bank of England and other key institutions, including the IMF, as an indicator of current and future conditions in UK residential sales and lettings. It is covered extensively in the media and is the leading source of market intelligence, highly regarded both by investors and across the industry.
Market conditions still reasonably solid to end the year but the recent macro environment presents headwinds moving forward
The December 2024 RICS Residential Market Survey results point to the slightly brighter picture seen over recent months remaining in place, with most activity metrics still in modestly positive territory. That said, while near-term expectations are, for the time being, consistent with this trend being broadly sustained over the coming months, the macroeconomic environment looks to have turned more challenging of late. Indeed, the recent rise in bond yields along with other lending rates, if sustained, may prove to be a significant headwind moving forward.
Headlines:
Sales volumes improve slightly in December
Buyer enquiries metric turns a little flatter, while respondents report a further increase in new instructions
House prices now seen rising across all parts of the UK.
