UK house prices fell more sharply in April, according to a key industry survey, as elevated borrowing costs weighed on the market.
The Royal Institution of Chartered Surveyors reported a net balance of -34%, the steepest decline in months.
New buyer enquiries declined, with a net balance of -34%. Agreed sales also weakened slightly.
Near-term price expectations remained negative at -38%, though less pessimistic than March.
A widening North-South divide was evident, with London and the South East seeing the largest falls, while Scotland and Northern Ireland recorded price increases.
In the lettings market, tenant demand edged up, but landlord instructions remained negative due to the new Renters' Rights Act.
