UK House Price Gauge Falls to Lowest Since 2023, RICS Says

More UK estate agents reported falling house prices in April as the war in Iran and elevated borrowing costs hit buyer confidence, according to a closely watched survey.

The Royal Institution of Chartered Surveyors’ gauge of home values declined nine percentage points to minus 34, its lowest point since November 2023. It means that agents reporting falling prices significantly outnumbered those seeing growth. Values are expected to decrease in the near-term amid a “challenging” global backdrop.