RICS house price balance positive for the first time since October 2022

The Royal Institution of Chartered Surveyors main house price balance measures the
difference between surveyors seeing falls and rises in house
prices

It rose to +11 in September

• expected +4
• August was 0
• the September move into positive territory is the first since
  October 2022
• sales and enquiries also rose

RICS comment:

• “A further unwinding in monetary policy is anticipated over
  the months ahead, which should create a more favourable backdrop
  for the market moving forward”

This is in reference to the the Bank of England’s benchmark Bank Rate now at 5%
after August’s first reduction in borrowing costs in four years. the BoE next meet in November 7 and a further 25bp rate cut is expected.

This article was written by Eamonn Sheridan at www.forexlive.com.