Strong demand for homes continues

In the sales market, participants recorded a net balance of +16% for new buyer enquiries, up from +9% in December which is the strongest figure since May 2021.

In the rental market, a net balance in demand of +64% was reported by survey participants for renter demand which is the strongest result since 1999.

Supply of properties (new instructions) currently remains constrained in both the lettings and sales markets which will continue to put pressure on prices.

Source: Dataloft, RICS (net balance of survey participants).

The RICS net balance score is calculated by the proportion of survey respondents reporting a rise minus those reporting a fall in the given indicator.