Market remains ‘downbeat’ despite increased optimism about future sales, says RICS

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Market still cautious but medium-term outlook more settled as interest rates ‘peak’

The housing market remains “downbeat” with indicators on demands, sales, new listings and prices all remaining in negative territory, say surveyors.

The latest residential market survey by the Royal Institution of Chartered Surveyors (RICS) shows a score of -29% for surveyors reporting a fall in demand in March, barely changed on the -30% recorded for February. A minus score means there was a higher proportion of surveyors reporting a fall than a rise (see box below).

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