The Royal Institution of Chartered Surveyors main house price balance measures the difference between surveyors seeing falls and rises in house prices
It rose to +11 in September
- expected +4
- August was 0
- the September move into positive territory is the first since October 2022
- sales and enquiries also rose
RICS comment:
- "A further unwinding in monetary policy is anticipated over the months ahead, which should create a more favourable backdrop for the market moving forward"
This is in reference to the the Bank of England's benchmark Bank Rate now at 5% after August's first reduction in borrowing costs in four years. the BoE next meet in November 7 and a further 25bp rate cut is expected.
