The housing market in Wales recorded an increase in the number of newly listed homes for sale in February, according to the latest report from the Royal Institution of Chartered Surveyors (RICS). However, optimism regarding the short-term outlook remains limited among survey participants.
Around 15% of respondents in Wales reported a rise in new instructions to sell during February, reflecting an increase in the number of sellers bringing properties to the market. Despite this supply growth, demand appears to be on a continued decline, with 37% of surveyors in Wales noting a drop in new buyer inquiries—an increase from the 21% decline recorded in the previous month.
This weakening demand has been reflected in sales performance, as 36% of respondents in the latest survey reported a fall in sales, marking the worst reading for this indicator since July 2025. Survey participants also reinforced their cautious outlook, with 6% expecting sales to decline over the next three months.
In this context, Anthony Philpott of Kelvin Francis in Cardiff noted that an increase in serious demand is leading to quick deals, some at or near the full asking price. However, he added that there has been no tangible impact yet from the current geopolitical situation in the Middle East on the market, while warning that the trend of falling interest rates could potentially stall.
