FX.co ★ UK House Price Balance Improves in January

The RICS UK Residential Market Survey showed that the house price balance improved to -10% in January 2026, up from a revised -13% in December. This marked the third consecutive monthly increase and the strongest reading since June. The result also exceeded market expectations of -11%, reinforcing evidence of a tentative recovery in the housing market.

Regional differences, however, remain significant. Northern Ireland and Scotland continued to record price gains, while respondents in the North West and the North of England reported that prices are edging higher. By contrast, net balances in London, the South West, the South East, and East Anglia stayed more negative than the national average, although each of these regions experienced a slower pace of decline.

Commenting on the data, RICS Chief Economist Simon Rubinsohn said: “There are early signs that market conditions may be improving after a challenging period, although activity levels are still subdued, meaning any recovery is likely to be gradual.”