Strong demand for homes continues

A net balance in demand of +64% was reported by survey participants for renter demand. This is the strongest result since 1999.

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

Conversely, supply of properties (new instructions) remains constrained in both the lettings and sales markets and 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.