RICS Residential Market Survey March 2024

Key trends

Buyer demand continues to increase, with a net balance of +8% reporting an increase in new buyer enquiries in March, the most positive return since February 2022.
Newly agreed sales remain broadly stable, with a net balance of -5% indicating little change from the previous month. However, a net balance of +13% of survey participants expects sales volumes rising over the next three months, compared to +6% in the previous month's results.
New listings coming onto the sales market increased for a fourth successive report, with a net balance of +13% citing a pick-up in new instructions.
Market appraisal levels have improved for three straight months, with a net balance of +21% noting an increase compared to the previous year.
The headline indicator tracking house price trends returned a net balance of -4% in March, suggesting a largely stable picture for house prices.
All regions/countries have seen their house price series either turn less negative or move into positive territory compared to the start of the year.
Looking ahead, respondents anticipate house prices returning to growth over the next twelve months, with a net balance of +38% posted in March.