Here is a fact that surprises most homebuyers: as of late September 2026, no official September housing sentiment figures exist yet. The RICS UK Residential Market Survey for September 2026 will not be published until 8 October 2026, meaning every headline currently circulating is based on the August 2026 survey, released on 7 September 2026. Understanding this timing gap matters, because it shapes how buyers, sellers, and anyone commissioning a building survey should interpret the current market mood.
This update explains what the most recent RICS data actually shows, why it matters for anyone weighing up a property purchase right now, and how The Survey Merchant is advising clients on survey timing while the market continues its slow, uneven stabilisation.
The RICS UK Residential Market Survey is a monthly sentiment survey of chartered surveyors active in sales and lettings across the UK. It does not measure completed transactions directly; instead, it captures the net balance of surveyors reporting rises versus falls in key indicators such as enquiries, sales, and prices. This makes it one of the earliest and most trusted signals of where the housing market is heading, well ahead of official price index data.
Ahead of the September 2026 release on 8 October, the trend to watch is whether the gradual improvement seen through spring and summer 2026 continues.
New buyer enquiries recorded a net balance of -19% in August 2026, an improvement on previous months and the least negative reading since January. More surveyors are still reporting falling enquiries than rising ones, but the pace of decline has clearly slowed compared with April’s low point. This is the fifth consecutive monthly improvement, suggesting demand is bottoming out rather than falling further.
Agreed sales came in at -17% in August, the best reading since February and a marked recovery from -38% in April. RICS and independent commentators broadly agree this points to a slowdown that is levelling off, even though transaction volumes remain below what would be considered a healthy, normal market.
The flow of new sales instructions held at a net balance of 0 in August, essentially unchanged from July’s -2%. In practical terms, this means the number of properties coming to market has stopped shrinking, but it has not started growing either. Flat supply alongside recovering-but-weak demand is a key reason the market feels stable rather than dynamic.
The headline price net balance was -28% in August, slightly better than -29% in July and considerably improved from -35% in April. Crucially, surveyors expect further modest price falls over the next three months but broadly flat prices over a 12-month horizon. This pattern points toward a gentle, extended softening rather than an abrupt correction.
Looking three months ahead, the net balance for expected sales improved to -3% in August from -13% in July, edging close to neutral. Over a 12-month horizon, sentiment turns cautiously positive, with a +6% net balance expecting higher sales volumes, up from +3% previously.
Away from sales, the lettings market tells a different story. Surveyors expect rents to rise strongly, with a net balance of +44% anticipating increases over the next three months, up from +33% in July. Over 12 months, average UK rent growth of around 3% is expected, reflecting persistent tenant demand against constrained landlord supply.
National averages mask real regional differences. Recent commentary highlights London as the weakest region for price sentiment, while Northern Ireland continues to report rising prices. The UK government’s July 2026 House Price Index summary similarly notes downward price pressure concentrated in London, the South West, and the South East.
The August 2026 survey drew responses from 200 contributors covering 435 branches, with results regionally weighted and seasonally adjusted using the X-12 method for consistency. Headline UK figures cover England and Wales only; Scotland and Northern Ireland are surveyed separately and reported outside the headline balance. This distinction is important when comparing regional experiences against the national narrative.
For anyone actively buying, the practical implications of stabilising-but-still-negative sentiment are clear.
Prices are still adjusting downward in most regions, even if slowly. This strengthens the case for a proper independent valuation rather than relying solely on an agent’s asking price or automated online estimate.
Weak demand and flat supply mean less competitive pressure on buyers. There is more room, in most markets, to negotiate on price after a survey identifies defects — leverage that disappears quickly once demand firms up.
Uncertain price trajectories increase the value of a Level 3 Building Survey for older, unusual, or extended properties, where hidden structural issues could materially affect negotiated price.
A Level 2 HomeBuyer Report remains appropriate for conventional, reasonably modern homes in good condition, giving buyers a cost-effective condition check without over-specifying.
| Scenario | Recommended survey | Why it matters now |
|---|---|---|
| Standard modern home, good condition | Level 2 HomeBuyer Report | Confirms condition without excess cost |
| Period, listed, or extended property | Level 3 Building Survey | Detects structural issues that affect negotiation |
| Buying in a softening price area | Either level, plus valuation | Supports renegotiation if defects are found |
| Buy-to-let in high-demand rental area | Level 2 or 3 depending on age | Protects rental income against void costs |
The Survey Merchant continues to advise clients that in a market where price balances remain negative but improving, a professional survey is not just a safeguard — it is a negotiating tool. Findings from a Level 2 or Level 3 report can be used constructively when agreeing final price, particularly while the RICS data shows sellers still adjusting expectations downward in most regions.
When will the September 2026 RICS survey be published?
It is embargoed until 8 October 2026, so no official September figures are currently available.
Is the housing market recovering or still declining?
Neither sharply. August 2026 data shows easing negativity across demand, sales, and prices — a gradual stabilisation, not a rebound.
Should I wait for prices to fall further before buying?
RICS data suggests only modest further falls are expected over three months, with broadly flat prices over 12 months, so timing purely for price drops carries uncertainty.
Do I need a Level 3 Building Survey or is a Level 2 enough?
It depends on the property’s age and condition. Older or altered properties generally warrant a Level 3 Building Survey; straightforward modern homes are usually well served by a Level 2 HomeBuyer Report.
Are rents expected to keep rising?
Yes. Surveyors expect further rent increases, with average UK rent growth of around 3% anticipated over the next year.
Does the RICS survey cover the whole UK equally?
Headline figures cover England and Wales; Scotland and Northern Ireland data are collected and reported separately.
The most recent evidence — the August 2026 RICS UK Residential Market Survey — points to a housing market that is stabilising gradually across buyer demand, agreed sales, and price expectations, while rental pressure remains firmly upward. Until the September 2026 data is released on 8 October 2026, buyers and sellers should treat current conditions as a continuation of this easing trend rather than a confirmed turning point.
For anyone actively purchasing a property, this is a sensible moment to commission an independent Level 2 HomeBuyer Report or Level 3 Building Survey before exchange. With price sentiment still soft in most regions, a clear, evidence-based condition report can support informed negotiation and protect against costly surprises after completion.
RICS UK Residential Survey, August 2026
RICS UK Residential Market Survey (homepage)
August 2026 UK Residential Market Survey (PDF)
Survey Merchant provides vetted RICS surveyors across 100+ UK locations at fixed fees:
→ Level 2 Home Survey (HomeBuyer Report)
→ Level 3 Building Survey (full structural survey)
→ RICS Red Book property valuations
→ Party wall surveyors — notices, awards & schedules of condition
→ Expert witness surveyors — CPR Part 35 reports for property disputes
