UK property market demand and sales stagnant in July
RICS reports UK property market stagnation in July with buyer enquiries at -28% and sales unchanged from June.
The UK property market demonstrated little improvement in July, with buyer demand and agreed sales remaining broadly unchanged from the previous month. According to the latest UK Residential Market Survey by the Royal Institution of Chartered Surveyors (RICS), the sector continues to face significant headwinds as transaction activity fails to gain momentum.
New buyer enquiries recorded a net balance of -28% in July, a figure that remained flat compared with June. While this reading indicates a continued negative sentiment among potential purchasers, the stability of the metric suggests that the decline in interest has temporarily plateaued rather than accelerating further.
The data highlights a period of stagnation where neither demand nor sales volume has shifted significantly. This lack of movement underscores the ongoing challenges within the UK housing sector, as market participants await clearer signals of recovery or further adjustment in the coming months.