Supporting smarter valuation conversations – Cumber

The May RICS UK Residential Market Survey reveals that, while buyer demand and sales activity remain in negative territory, sentiment around the near-term outlook is showing tentative signs of improvement. 

A net balance of -26% of survey participants reported a fall in new buyer enquiries in May. This marks the fifth consecutive month of decline, but the figure is slightly less downbeat than seen in March and April. Agreed sales also continue to edge lower, returning a net balance of -28%. 

However, the sales outlook over the next three months has improved slightly, with expectations now broadly flat rather than falling. Looking further ahead, +25% of respondents anticipate an increase in sales volumes over the next year, the strongest reading since February. 

The picture for house prices remains largely unchanged. The national net balance slipped to -8% in May, from -3% the previous month, but continues to suggest a relatively flat market overall. Price expectations for the next 12 months remain in positive territory, with +34% of respondents expecting prices to rise. 

On the supply side, new instructions coming to market continue to edge up. A net balance of +7% of surveyors saw a rise in new listings, marking the 11th consecutive month of growth. Valuation activity also picked up, with +19% noting an increase in appraisals compared to a year ago, indicating a potentially more active summer market. 

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Against this backdrop, first-time buyers are leading the charge. UK Finance reports that mortgage completions among this group surged by 113% in March compared to the previous year, while homemover completions jumped by 140%, as buyers rushed to beat the April stamp duty changes. 

The need for clarity with valuations 

With growing reliance on intermediaries to guide homebuyers through an increasingly complex market, providing clients with clarity and confidence – especially around property valuations – has never been more critical. 

During a recent webinar hosted by Countrywide Surveying Services, a live poll revealed that just 25% of brokers feel ‘very comfortable’ explaining how properties are valued to their clients. A further 53% reported being ‘somewhat comfortable’, while 14% admitted they were ‘not really comfortable’, and 8% were neutral. Encouragingly, no respondents said they avoid the topic entirely, but the results clearly point to a need for stronger collaboration between brokers and surveyors. 

When the floor was opened to all property professionals in attendance, there was clear scepticism toward estate agency appraisals, with a significant 71% stating they do not believe these appraisals – or agreed sales prices – accurately reflect true market value. 

The webinar also explored expectations around valuation appeals. While 54% of respondents foresee no major change in appeal volumes, 41% anticipate an increase, likely reflecting heightened sensitivity to valuations in today’s more cautious lending environment. 

This data reinforces the vital role advisers play in shaping client expectations and bridging the gap between surveyors and homebuyers. The better advisers understand the rationale behind a valuation, the more effectively they can support clients and help smooth the transaction process. Equally, surveyors have a responsibility to equip brokers with the right insights at the appropriate stage of the home buying process. 

Buyers today are cautious yet receptive to guidance. The housing market shows signs of stabilisation, though momentum remains modest. Meanwhile, advisers continue to step into a broader role, not just as facilitators of finance, but as trusted guides through various stages of a complex and often emotive journey.

With better access to data, deeper collaboration with surveyors, and a stronger grasp of valuation practices, intermediaries are well-positioned to add real value. In a market shaped by nuance and uncertainty, clarity remains our most powerful asset.