A measure of house prices in the United Kingdom turned positive in April for the first time in almost three years as demand for housing outstripped supply, a survey by the Royal Institution of Chartered Surveyors (RICS) showed Tuesday.
The house price balance rose to 1 in April from -2 in March. This was the first positive reading for house prices since June 2010. Prices are beginning to improve "with not enough housing to meet increased demand," RICS said in the survey report.
The survey found that demand for property rose to its highest level in over three years during April. New buyer inquiries rose to their highest level in over three years, with 25 percent more chartered surveyors reporting demand for property rose rather than fell. This compares with 13 percent in March.
The latest jump "strongly suggests that along with the existing Funding for Lending scheme, Help to Buy is attracting interest even if the mortgage guarantee element of the product is not due to come into effect until next year," RICS said.
Supply also increased during the month, albeit more modestly to net balance of 8 percent.
"Sales are expected to pick up over the coming months, albeit from historically low levels," RICS Global Residential Director Peter Bolton King said.
Newly agreed sales improved in April with 19 percent more surveyors reporting sales rose rather than fell during April. This compares with 11 percent in March.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.