The house price balance in Wales is the lowest it has been in a decade, new data reveals. According to the Royal Institution of Chartered Surveyors (RICS), a net balance of -37% was reported for prices in its latest residential market survey - the lowest since October 2012.
The house price balance is calculated by the proportion of Welsh property professionals reporting a rise in housing prices minus those reporting a fall. A negative net balance implies that more respondents are seeing decreases in house prices than increases.
This suggests that house prices are lower than they were three months ago, with Welsh property professionals expecting house prices to reduce further over the next three months before recovering during the rest of the year.
