9 March 2023
The Royal Institute of Chartered Surveyors (RICS) Residential Market Survey in February 2023 reports falling house prices based on their House Price Balance. The House Price Balance is a figure based on the difference between RICS surveyors reporting an increase in house prices and the number of surveyors reporting a decline. Although negative, the figure has improved from -45% in January to -29% in February. With the rental market, the RICS report rent rises due to continued supply and demand imbalance.