The UK housing market is continuing to pick up, the nation’s surveyors have reported, but renters are being squeezed by a fall in properties available to them.
The latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey has shown that UK house price growth turned positive across the country for the first time in almost two years.
More surveyors reporting rising house prices in their area than falling prices in September, which ends a run of negative or flat returns for this indicator stretching back to October 2022.
With borrowing costs expected to keep falling, prices are expected to rise across the UK in the year ahead.
RICS head of market analytics, Tarrant Parsons, says: “The latest survey results once again convey a brighter picture for housing market activity, with the recent easing in mortgage interest rates continuing to support a recovery in buyer demand.”
However, renting a house in the UK is becoming harder as demand continues to surge.
RICS reported that demand from tenants increased again last month, while there was a drop in the number of properties listed for rent – possibly because landlords are fearful of capital gains tax (CGT) changes in the budget this month.
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