Essex Property Market Update: What the Latest RICS Survey Really Means for Buyers, Sellers and Landlords

The latest RICS UK Residential Market Survey for July 2026 paints a picture of a property market that remains cautious, price-sensitive and short of real momentum nationally.

But, as is so often the case with the UK housing market, the national headlines do not tell the whole story.

Here in Essex, our experience at Boydens is of a market that is still moving. Buyers remain selective, landlords continue to face strong tenant demand, and properties that are launched with the right pricing and marketing strategy are still attracting interest.

David Boyden MRICS, Chairman of Boydens and a contributor to the latest RICS survey, provided RICS with our view of the Essex market during July.

The National Sales Market Remains Subdued

Across England and Wales, RICS reported that new buyer enquiries remained in negative territory during July, with a net balance of -28%.

Agreed sales were similarly subdued at -30%.

Although both measures remain weak, there are some indications that the pace of deterioration may be easing. Buyer enquiries have recovered from the -41% recorded in March, while agreed sales have improved from the -37% recorded in April.

Near-term expectations also became slightly less pessimistic, although RICS is clear that this does not yet represent a meaningful turnaround.

For sellers, that makes understanding the market they are entering increasingly important.

This is not a market where simply putting a property online at an ambitious asking price and waiting is likely to produce the best result.

What Are We Seeing in Essex?

David Boyden's assessment of the local sales market closely reflects what our teams are seeing across Essex:

“The Essex sales market remained steady but highly price-sensitive, with realistically priced properties continuing to attract interest while over-priced stock took longer to secure buyers.”

That distinction is important.

There are still genuine buyers in the market. They are viewing, making offers and completing transactions, but many are taking more time over their decisions and comparing properties carefully before committing.

Homes that represent good value and are marketed properly can still generate strong interest.

Those which enter the market significantly above where buyers perceive value to be can quickly lose momentum.

The latest RICS figures also show that house prices nationally remain under some downward pressure, with a net balance of -30% in July. London, the South East and South West recorded particularly negative readings.

Our own experience in Essex was somewhat more encouraging during the month, with values showing an increase in the latest period while remaining broadly flat over the preceding twelve months.

That reinforces why local evidence matters.

There is rarely one single “UK property market”. Conditions can vary considerably between towns, property types, price brackets and even individual roads.

Correct Pricing Has Become More Important

One theme runs consistently through the comments from surveyors across the country: pricing.

RICS contributors repeatedly referenced the importance of realistic asking prices, with surveyors in several regions reporting that correctly priced homes continue to sell while ambitious listings are taking considerably longer.

That is very much our experience at Boydens.

The first few weeks of marketing remain particularly important.

A property entering the portals at the correct price has an opportunity to reach the largest possible audience while it is fresh to market.

An unrealistic launch price can mean missing that initial pool of motivated buyers and then having to reduce later.

For anyone considering selling, our advice is therefore not necessarily to “price low”, but to price intelligently.

That means looking closely at comparable evidence, current competing properties, recent sales, buyer demand and how the property will appear within the search bands used on Rightmove and the other major portals.

The Rental Market Tells a Different Story

The lettings market continues to face a very different imbalance.

Nationally, RICS reported that tenant demand was broadly unchanged during the three months to July.

However, landlord instructions remained firmly negative at -27%, suggesting that the supply of rental property remains constrained.

RICS respondents continued to expect rents to increase, with the three-month rental expectations indicator recording a positive net balance of +28%.

Locally, the position remains particularly clear.

David Boyden reported:

“Tenant demand continued to exceed available supply, with well-presented properties letting quickly and rental values remaining broadly stable during the month.”

Although Essex rents paused during July, average rental values remained approximately 4.4% higher than twelve months earlier.

For landlords, this demonstrates the continued importance of good-quality rental accommodation.

Well-presented homes in the right locations are still attracting strong levels of interest, and in many cases tenants are competing for a relatively limited number of suitable properties.

Landlord Supply Remains One of the Biggest Issues

Perhaps one of the most important trends in the latest RICS survey is the continuing shortage of new landlord instructions.

Surveyors across several regions reported landlords reconsidering their portfolios, particularly following recent regulatory changes and the introduction of the Renters' Rights Act.

Some landlords are selling when tenants leave, while others are reviewing whether individual properties continue to make sense as long-term investments.

This reduction in supply matters.

Where tenant demand remains strong but fewer rental properties become available, pressure on rents is likely to continue.

For landlords who remain committed to the sector, that can also create opportunities.

The emphasis, however, is increasingly on professional management, compliance, property condition and understanding exactly how individual investments are performing.

A Market for Serious Buyers and Sellers

One of the most interesting themes within the RICS respondents' comments is that serious transactions are still happening.

Across different parts of the country, surveyors reported that motivated buyers remain willing to proceed when they find the right home at the right price.

That mirrors our own experience.

The market is certainly more discerning than during the exceptionally active periods seen earlier in the decade, but that does not mean buyers have disappeared.

Instead, they have become more selective.

Presentation, photography, pricing, property condition and the strength of the overall marketing campaign therefore matter more, not less.

For sellers, this means creating a compelling reason for somebody to choose your property over the alternatives available.

What Could Happen Next?

The RICS survey shows modest improvement in expectations over the next twelve months.

National sales expectations moved to a net balance of +3%, while twelve-month house price expectations remained slightly positive at +4%.

That does not suggest a dramatic recovery, but it does indicate that surveyors are not expecting current subdued conditions to continue indefinitely.

As ever, confidence will be influenced by mortgage rates, economic stability, employment, taxation and wider political developments.

For buyers and sellers, trying to perfectly time those changes can be difficult.

Property moves are usually driven by life rather than economic forecasts.

Growing families, downsizing, relocation, inheritance, divorce, investment decisions and changing lifestyles all continue regardless of the wider market.

The key is therefore understanding the conditions at the point you decide to move and adapting your strategy accordingly.

Our View at Boydens

We believe the current market rewards realism and good advice.

For sellers, achieving the best result starts with accurate pricing, excellent presentation and a proactive marketing campaign.

For buyers, the current environment may provide opportunities to negotiate on homes that have been available for longer, while desirable and correctly priced properties can still attract significant interest.

For landlords, continued demand combined with constrained supply means well-maintained rental property remains highly sought after, although the legislative and regulatory environment makes professional advice increasingly important.

The market may be more cautious, but it is far from inactive.

At Boydens, our teams across Essex and Suffolk continue to help buyers, sellers and landlords navigate changing conditions using local knowledge, detailed market evidence and a strategy tailored to each individual property.

If you are considering selling, buying or reviewing your rental portfolio, speak to your local Boydens team for an honest assessment of the market in your area.