property portfolio

House prices and rental demand on the rise despite Brexit questions

House prices are still on the rise and demand for rental properties is also up around the UK despite uncertainty over Brexit, according to the Royal Institute of Chartered Surveyors.

The RICS’ UK Residential Market Survey for September shows some wide variations in results from region to region.

House prices in London continued to show the steepest decline, on a regional comparison, while figures for the south-east of England and East Anglia are still declining. But, by contrast, prices around much of the rest of the UK rose solidly with the West Midlands, Northern Ireland and Scotland the best-performing regions.

That trend is also reflected in an expectation that they will continue to rise over the next 12 months, especially in the north-west of England and Northern Ireland, although this expectation is not shared by RICS members from London and the south-east.

Rents and need for rental properties on the up

Demand for rental properties rose across the UK for the fourth month in a row, although instructions to let declined again, showing that the supply is falling short of demand in the market.

Rents are expected to rise by 2% over the next year, and by an estimated 3.5% between now and 2023.

Brexit: Opinions vary around the country

The effects of Brexit also showed up in an array of comments included in the survey. One respondent, from the south-east, said, “Longer term very hard to predict given Brexit uncertainties”, while another declared “Mercifully, the North-East has not caught ‘Brexititis’”.

“There are a number of themes running through the comments of respondents this month,” said RIBS Chief Economist Simon Rubinsohn. “Uncertainty relating to Brexit negotiations is at the very top of the list followed by references to the confidential remarks made by the Bank of England Governor to the cabinet.

“This is not surprisingly taking its toll on the sales market with the key activity indicator in the survey flat or slightly negative in all parts of the country apart from Northern Ireland and Wales.

“That said, the recent announcement from the Prime Minister that the Housing Revenue Account borrowing cap will be abolished is a bold move which over the time could help address some of the very real challenges facing those looking to buy or rent property.

“There is no silver bullet that will immediately resolve this problem but encouraging new entrants to deliver affordable homes is certainly part of the answer.”


Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:


Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment


Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:


+44 (0) 333 123 0320

Open from 9am-6pm GMT


+852 6699 9008

Open from 9am-6pm HKT