RICS UK Residential Market Survey update - May 2023

Positive picture painted by the May 2023 UK Residential Market Survey from RICS

Despite recent negativity in the media, the latest UK Residential Market Survey from the Royal Institution of Chartered Surveyors paints a more positive picture of the current housing market. The survey shows that in the last 3 months prices, new buyer enquiries, new vendor instructions and agreed sales in Northern Ireland have all increased. In addition, survey respondents expect that prices in the region will continue to rise in the next 3 months.

The findings of this survey reflect our own experience of the local market with an increase in activity since mid-spring. However, with recent interest rate rises, there remains a level of uncertainty in the market and the outworkings of this remain to be seen.

You can read the full UK Residential Market Survey for May 2023 here https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey

28 June 2023