RICS: Property sales market is improving but house prices are still set to fall

The Royal Institution of Chartered Surveyors suggests lower mortgage rates are helping home sales recover but house prices continue to struggle

house on the edge
(Image credit: Getty Images)

The cost of living crisis and high mortgage rates have weighed on the housing market for much of the year but there are some signs of improvement, according to the Royal Institution of Chartered Surveyors (RICS). 

The professional body seeks views from its agent and surveyor members each month to get a sense of the housing market mood and factors such as new listings and sales and outlooks for house prices have been negative for much of 2023. 

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.