With interest rates peaking and a lower inflation rate, there have been more reasons for cautious optimism in the market outlook.
There are a number of leading indicators we can look to on how the market is faring. One of these is the Royal Institution of Chartered Surveyors (RICS) Monthly Survey which leads trends in England and Wales house prices.
The survey's headline net balance indicator points to continued stabilisation in house prices over the next few months and a potential return to low levels of positive price growth.
The net balance indicator tracks the number of surveyors each month expecting a price rise versus those that expect a price fall.
The February 2024 survey also pointed to a more positive trend emerging in both buyer enquiries and new seller listings. Source: #Dataloft, RICS (Feb 2024), Land Registry, UKHPI.
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