Global Market | UK housing market downturn eases slightly, but sentiment remains fragile: RICS

The RICS headline house price balance for the UK stood at -33% in June, broadly unchanged from May's revised reading of -34%, indicating a marginal easing in the pace of price declines. New buyer enquiries improved to -29% from -34%, and near-term sales expectations recovered to -16% from March's low of -34%. The rental market remained tight with tenant demand at +18%, while rents are expected to rise about 2.5% over the next year; RICS noted that uncertainty around inflation and the Bank of England's interest rate stance continues to dampen buyer confidence.