RICS Residential Market Survey June 2025

Key takeaways

Buyer demand and sales show tentative signs of recovery

The residential sales market stabilised in June, with key indicators moving out of negative territory for the first time in several months.
New buyer enquiries posted a net balance of +3%, up significantly from -22% in May, ending a six-month stretch of negative readings.
Agreed sales remained slightly negative at -3%, but this is a marked improvement on the -25% and -28% seen in April and May.
Near-term sales expectations rose to +6%, from -2% previously, hinting at a gentle recovery in activity over the next three months.
Looking ahead, 12-month sales expectations softened to +5%, down from +25% in May, suggesting a more cautious longer-term outlook.

New listings and appraisals still positive, but momentum slowing

New sales instructions edged down to a net balance of +3%, from +7% in May – the weakest positive return in the past year.
Market appraisals remained supportive, with +16% of respondents reporting higher activity than the same period last year, indicating a steady flow of potential new listings.

House prices remain flat

The national house price indicator was unchanged at a net balance of -7%, pointing to a broadly flat to marginally negative trend.
Regional variation remains stark: prices are falling more noticeably in London, East Anglia, and the South East, while remaining in positive territory in Northern Ireland, North West, Scotland, and the East Midlands.
Near-term price expectations stayed negative at -10%, little changed from -11% in May.
However, 12-month expectations remained firm, with +24% anticipating price growth over the next year.

Rental market

Tenant demand was largely steady, with a net balance of -2%, while supply constraints persist.
Landlord instructions declined further, at -21%, continuing a long-standing trend of falling rental stock.
Rental price expectations remained elevated, with +24% of contributors expecting rents to rise over the next three months, although this is down from +43% in May.