Volatile interest rate environment continues to weigh on buyer demand
New buyer enquiries indicator remains downbeat, with sales volume continuing to weaken against a challenging macroeconomic backdrop
National house prices still reportedly edging lower
Forward-looking measures revised down, with sales and prices expected to decline a little further over the next twelve months
The October 2026 RICS Residential Survey results continue to point to subdued market conditions, with the renewed rise in mortgage interest rates over recent months weighing on buyer demand. Moreover, twelve-month expectations for sales volumes were revised down in the latest results, suggesting respondents expect the current constraints on market activity to persist for some time yet.
What is the UK Residential Market Survey?
The September 2026 RICS UK Residential Market Survey feedback suggests that the recent rise in interest rate expectations has stalled the previous run of slightly less negative results, with measures of buyer demand and sales activity turning marginally weaker over the month. That said, despite this setback, the latest readings remain less downbeat than the lows recorded earlier in the year. Looking ahead, while the near-term outlook appears to have become a little more pessimistic, the twelve-month view remains that the market will stabilise further ahead.
Navah Consulting’s View
This month’s survey is a little more cautious than last. Buyer demand has stalled, sales have weakened, and house prices have now edged lower for two months running. Expectations for the year ahead have moved from flat to a modest fall, which RICS puts at around 1%.
The figures are especially relevant to our area. East Anglia and the South East are among the regions where price momentum is weaker than the national average. Buyers are cautious and price sensitive, and fewer new listings are coming forward. Sensibly priced homes in good condition are still selling. Properties with ambitious asking prices or significant defects are more likely to face renegotiation, or to sit on the market. In this kind of market, knowing what you are buying and what it is really worth matters more than ever.
At Navah Consulting, we support buyers, sellers and property owners with clear, independent advice through:
RICS Red Book Valuations (sale, purchase, probate, shared ownership and Help to Buy)
Our Home Surveys can also be combined with an independent Market Valuation. This helps buyers understand not only the condition of the property, but whether the price they are paying is supported by current market evidence.
As RICS-qualified surveyors based in Bishop’s Stortford, we assist clients across Hertfordshire, Essex, Cambridgeshire, London and surrounding areas, including Bishop’s Stortford, Stansted Mountfitchet, Cambridge, Hertford, Harlow, Sawbridgeworth, Chelmsford and Saffron Walden.
If you are buying a property or require an independent valuation, please get in touch.
Navah Consulting – Surveying Made Simple.
