The survey also shows that buyer interest is on the rise, with an 8% net balance of respondents noting more inquiries from potential buyers in March—the most significant jump since February 2022. The supply of houses is also growing, with new listings going up for the fourth month in a row, indicated by a net balance of +13% of survey participants.
The Rics survey is among the key indicators people watch to gauge what’s happening in the housing market. Other reports from Halifax and Nationwide also mentioned that house prices decreased in March. However, official figures suggest that although house prices have been falling since July 2023, there has been some stabilization in the recent months.
Rics’ March survey results show that house prices have levelled out and suggest there may be a rise later in the year. The survey’s findings are optimistic for the next 12 months, with house price growth expected across the UK, especially in Northern Ireland, London, and Scotland.