RICS: UK housing market starts to lose momentum

The latest survey by the Royal Institution of Chartered Surveyors reveals that housing market activity is slowing due to the upcoming stamp duty hike, as well as “international economic uncertainties”

View of terrace housing looking down St. Swithun's Terrace in Lewes, East Sussex
(Image credit: Getty images)

The UK housing market faces uncertainty over economic and political issues and is starting to lose momentum, according to the latest Royal Institution of Chartered Surveyors (RICS) survey.

While house prices rose overall last month, buyer demand weakened. The survey, which polls estate agents and other property professionals, revealed a net balance reading of -14% for buyer demand in February, down from -1% in January. It marks the weakest reading since November 2023.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.