United Kingdom RICS House Price Balance

The RICS UK Residential Market Survey’s house price balance, which tracks the difference between the percentage of respondents reporting price increases versus those observing declines, rose to +28% in December 2024, up from +24% the previous month. This exceeded market expectations of +27% and marked the highest reading since September 2022. The metric has gained momentum for five consecutive months, with house prices rising across all regions of the UK, albeit to varying degrees. Northern Ireland and Scotland continue to lead the way, showing particularly strong house price growth. Looking ahead, national house prices are expected to keep rising over both the three-month and twelve-month periods. Notably, a net balance of +53% of survey participants foresee prices increasing over the next year. When broken down regionally, all areas of the UK show positive house price expectations for the coming twelve months.