The UK housing market lost momentum in September, with concerns over the interest-rate outlook weighing on buyer confidence. The latest survey data from the Royal Institution of Chartered Surveyors showed a further decline in new buyer enquiries.
The net balance for new buyer enquiries fell to -22%, indicating that more survey respondents reported a decrease than an increase in interest from prospective purchasers. The reading points to a more cautious market as households assess the cost of borrowing.
Price conditions also deteriorated. The net balance measuring house-price pressure dropped to -32%, underlining the extent to which weaker demand is affecting sellers' expectations and market sentiment.
As Property Wire reported, the September figures connect the market slowdown directly to rising expectations for interest rates. For Latvian property professionals and investors monitoring international housing conditions, the data offers a reminder that mortgage-rate expectations can influence transactions before any policy change takes effect.