UK Residential Market Survey, October 2024 (published 11th November 2024).
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.
Sales market activity continues to rise steadily
The October 2024 RICS Residential Survey results continue to signal an improving market backdrop, evidenced by modestly positive readings once again being returned across all headline measures of activity. Furthermore, forward-looking indicators remain consistent with a further pick-up in sales volumes over near-term, although the rise in bond yields in recent weeks is likely to present something of a headwind as it feeds through into general lending conditions.
Headlines:
Survey feedback capturing the recent trend in agreed sales and new buyer enquiries remains positive.
Headline house price growth appears to be gradually gaining momentum.
Expectations point to this brighter picture for activity being sustained over the near-term.
