The UK Residential Market Survey by RICS shows the house price balance dropped to -8% in May 2025—the lowest level since July 2024. This marks the fifth consecutive monthly decline, following a reading of -3% in April. Despite this trend, the headline data still suggests a broadly flat national picture for house prices. Regional differences remain stark. East Anglia and the South West recorded significantly more negative balances of -34% and -31%, respectively. In contrast, Northern Ireland continues to see strong price growth, with a net balance of +92% of respondents reporting increases. Looking ahead, national near-term price expectations remain slightly negative, with a net balance of -12%.