The RICS UK Residential Market Survey showed the house price balance fell to -12% in February 2026 from -10% in January, marking the first decline in four months and missing market expectations for an improvement to -9%. Respondents in London (-40%), the South East (-24%), and East Anglia (-26%) reported greater downward pressure compared with the national average. In contrast, Northern Ireland and Scotland continue to see rising prices, while the North West of England is also experiencing gains. Looking ahead, near-term headline price expectations returned to negative territory, with the aggregate net balance dropping to -18% from -6%. Over the next twelve months, a net balance of +33% of contributors expect house prices to edge higher, though this is down from +43% last month. The shift in sentiment is particularly notable in London, where the twelve-month expectations net balance has flattened sharply to +7% from +56% previously.

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