The Royal Institution of Chartered Surveyors (RICS), in its latest Residential Market Survey, indicated that the trend is expected to continue into early 2026

The UK housing market showed little signs of recovery in September, with both buyer demand and sales agreements remaining subdued for the third straight month.

The Royal Institution of Chartered Surveyors (RICS), in its latest Residential Market Survey, indicated that the trend is expected to continue into early 2026.

The survey found that new buyer enquiries dropped further, with a net balance of -19%, marking a third month of weakening interest. Agreed sales also remained negative at -16%, although this represented a slight improvement from the previous month’s figure of -24%.

House prices continued to face downward pressure, with a national net balance of -15%. The South East and East Anglia saw the most significant price declines, while Scotland and Northern Ireland continued to record modest increases.

The supply of new properties to the market also slowed, as new vendor instructions posted a -15% balance, the second monthly drop in a row.

Survey participants expressed little optimism for a near-term recovery in sales volumes, with both short-term and 12-month expectations at -9%. While short-term price expectations remain negative at -21%, a net balance of +12% of respondents anticipate prices will rise over the next year.

Concerns over the forthcoming November Budget were raised by surveyors, with many anticipating further property-related taxation. Respondents noted that affordability and market sentiment remain key constraints for both buyers and sellers.

The housing market continues to struggle for momentum, with seemingly no clear catalyst on the horizon to spark a turnaround over the near-term, commented Tarrant Parsons, head of market research and analytics at RICS.

He said: Buyer demand remains subdued, while agreed sales are still on a downward trend, reflecting a broader hesitancy in the market. Ongoing uncertainty around potential measures in the upcoming Budget is also likely adding to the prevailing cautious sentiment.