The housing market is steadying: what it means for sellers
Published 10 July 2026 · 5 min read · By Evren Ergin
On 9 July 2026, surveyors reported the first clear signs of the housing market steadying after months of decline, even though buyer demand and agreed sales are still below normal. For sellers it means the market is holding rather than climbing, so the winning move is to price to the buyers in front of you and sell on your own timeline, not to wait for a surge the data does not promise.
TL;DR
- •The RICS survey published on 9 July 2026 showed the pace of decline easing, with the least negative reading on buyer demand since February.
- •House prices were broadly flat again in June 2026, and asking prices slipped 0.6% on the month, so buyers are still price-sensitive.
- •Mortgage rates have been easing through July 2026 even with the Bank of England base rate held at 3.75%, which quietly supports demand.
- •A steadying market rewards realistic pricing, not waiting: homes priced to current demand still sell, while overpriced ones stall.
The Royal Institution of Chartered Surveyors, known as RICS, is the professional body for surveyors and estate agents, and its monthly survey asks members what they are actually seeing on the ground. Its June 2026 report, published on 9 July 2026, found a market that is steadying rather than sliding. Former RICS residential chairman Jeremy Leaf said prices and activity were holding up better than many had dared hope.
What did the July 2026 figures actually show?
The survey reports each measure as a net balance. A net balance is the share of surveyors reporting a rise minus the share reporting a fall, so a reading of minus 33 means far more saw prices fall than rise. The useful part is the direction of travel, and in June 2026 almost every reading was less negative than the month before.
RICS UK Residential Market Survey, June 2026 (published 9 July 2026)
| Measure | June 2026 | Recent reading | What it tells a seller |
|---|---|---|---|
| House price balance | -33% | around -33% | Prices still under mild downward pressure, but no longer getting worse |
| New buyer enquiries | -29% | -34% | Fewer buyers than a year ago, but demand is recovering |
| Agreed sales | -32% | -35% | Sales are subdued, though the decline is easing |
| 12-month price expectations | +8% | +6% | Surveyors are modestly more hopeful about the year ahead |
What is happening to house prices and mortgage rates?
Prices are flat, not falling off a cliff. UK house prices were broadly unchanged for a second month in June 2026, with the average home around £277,500, after a small dip the month before. Asking prices, which are what sellers hope for rather than what buyers pay, slipped 0.6% in June. On the lending side there is quiet good news: mortgage rates have kept easing through July 2026, with the average two-year fixed rate near 5.07%, even though the Bank of England has held the base rate at 3.75%.
Headline market indicators, mid-2026
| Indicator | Latest reading | Source and date |
|---|---|---|
| Average UK house price | around £277,500, flat in June 2026 | Bloomberg, 1 July 2026 |
| Asking prices | down 0.6% in June 2026 | Rightmove, June 2026 |
| Bank of England base rate | 3.75%, held | HomeOwners Alliance, July 2026 |
| Average two-year fixed mortgage | around 5.07%, easing | HomeOwners Alliance, July 2026 |
What does a steadying market mean if I want to sell?
It means this is a workable market to sell into, as long as you price to it. Buyers are coming back but they are still careful, and they can see every comparable home on the same portals you can. The homes that move are the ones priced against real recent sold prices, not against a hopeful headline.
- Price against what similar homes near you have actually sold for in the last few months, not against the highest asking price on the street.
- Expect sensible offers rather than a bidding war, and treat a strong early offer as the market working, not as a sign you went too low.
- Remember that a well-priced home in a steadying market often sells faster than an overpriced one in a hot market.
- If you are also buying, a flat market cuts both ways: the home you move to is unlikely to be racing away from you either.
Should I wait for prices to rise first?
You can, but the data does not hand you much reason to. The plus 8% figure is what surveyors expect over a whole year, and an expectation is not a guarantee. Waiting also has a cost, because most sellers are buyers too, and the home you want may drift up while you hold. ValuQ is a UK platform that gives homeowners free, side-by-side valuations from competing local estate agents, so you can price against real local demand instead of a headline, and the decision on when to sell stays yours.
In a steadying market, the seller who prices to real demand sells. The one waiting for a headline that has not arrived usually waits longest.
Sources
- [1]RICS UK Residential Market Survey, June 2026 · 2026-07-09 · https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey
- [2]Bloomberg — UK house prices stagnate as mortgage costs stay elevated · 2026-07-01 · https://www.bloomberg.com/news/articles/2026-07-01/uk-house-prices-stagnate-despite-easing-mortgage-costs
- [3]Rightmove House Price Index · 2026-06-16 · https://www.rightmove.co.uk/news/house-price-index/
- [4]HomeOwners Alliance — Mortgage rate forecast 2026 · 2026-07-01 · https://hoa.org.uk/advice/guides-for-homeowners/for-owners/mortgage-rate-forecast/
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