The RICS UK Residential Market Survey showed that the house price balance fell to -34% in April 2026 from a downwardly revised -25% in March, marking the weakest reading since November 2023 and coming in below market expectations of -25%. Regionally, London, the South East, East Anglia, and the South West of England all registered negative net balance readings. Conversely, the North West and the North of England continue to post marginally positive readings for the time being. Looking ahead, the near-term house price expectations index rose to a net balance of -38% in April at the UK-wide level, from -45% in March, indicating that downward pressure on prices is likely to ease over the next three months. “The recent warning from the Bank of England that interest rate rises may be required to tackle renewed inflation, driven by elevated oil prices and disrupted supply chains, underlines the challenging environment facing buyers,” said Tarrant Parsons, RICS’ head of research analysis.