UK housing demand slips as buyers pause, prices still seen rising
UK housing demand slips as buyers pause, prices still seen rising
New buyer enquiries hit a low not seen since mid-2024, but surveyors forecast sales and prices to rise in the coming months.
February data show new buyer enquiries fell to their net lowest level since mid-2024, marking a soft patch in demand for UK homes.
Despite softer demand, the survey also reveals a notably optimistic near-term view among surveyors: 39% of respondents expect sales to rise over the next three months. Some surveyors also anticipate prices edging higher as confidence returns and activity stabilizes.
The mood underscores a market that is losing momentum in the short term but not collapsing, with expectations of recovery shaped by improving sentiment and potential easing of mortgage costs. The latest readings point to a housing market at a crossroads, where cautious buyers and steadier selling conditions could pave the way for a rebound if confidence improves.
Analysts caution that the picture may vary regionally and that any uptick will depend on the availability of mortgage finance and the pace of buyer confidence restoring in the coming quarters.
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