Source: Sharecast
The headline house price net balance slipped to -32% from -28% in August, breaking a run of four consecutive months in which the indicator had become gradually less negative.
The balance for new buyer enquiries was -22% last month, down slightly on August’s -18%. Still, it remained comfortably above the recent low of -41% recorded six months ago, highlighting that although demand has softened slightly, current conditions are still less subdued than earlier in the year.
The balance for near-term house price expectations at the national level stood at -24%.
The net balance for agreed sales edged down to -18% in September from -16% in August, but remained less negative than the three-month average of -25%.
Looking ahead, near-term sales expectations softened slightly, with the net balance easing to -6% from -3% previously. "Although this points to a somewhat more cautious outlook over the next three months, the overall picture has not shifted significantly as yet," Rics said.
RICS head of market research Tarrant Parsons said: "A renewed rise in interest rate expectations has created a fresh headwind for the housing market, with buyers becoming a little more cautious and sales activity losing some momentum."
A net balance is the proportion of respondents reporting a rise in prices minus those reporting a fall. The survey sample covered 422 branches coming from 193 responses.