Welcome to your monthly property update!

Mortgage rates have jumped: why pricing right from day one matters more than ever

If you’ve been following the property headlines this autumn, you’ll know the biggest story isn’t house prices. It’s mortgage rates. A year that began with lenders competing on sub-4% deals has turned sharply, and that shift is now feeding straight into what buyers can afford and what they’re willing to pay. For anyone planning to sell, it changes the rules of the game, and the most important decision you’ll make is your asking price.

What has happened to mortgage rates?

At the start of March, the average two-year fixed rate was 4.84% and the average five-year fix was 4.96%, according to Moneyfacts. By 5 October those figures had climbed to 5.98% and 6.00%, the highest in around three years. The trigger has been the conflict in the Middle East, which has pushed up oil and gas prices, lifted UK inflation to 3.1% and led markets to expect the Bank of England’s next move to be a rise rather than a cut.

The speed of the change has been remarkable. Moneyfacts counted just nine fixed-rate mortgages priced below 5% on 5 October, down from almost 1,500 at the start of September. Deals are also being withdrawn or repriced within days, so a buyer who was agreed in principle earlier in the year may now find their budget has shrunk.

How is that affecting buyers?

Rightmove’s October report shows the number of new buyers contacting agents is 9% lower than a year ago, while new listings are up 3%. The total number of homes for sale is at its highest level for this time of year since 2014. Zoopla paints a similar picture, with 5% more homes on the market and sales agreed running 9% below last year.

In practical terms, buyers have more choice and less borrowing power at the same time. Zoopla estimates households can now borrow around 9% less than at the start of 2026. That combination makes buyers more selective, and more sensitive to price, than at any point in the last few years.

What’s happening to prices?

Prices haven’t collapsed, but they have stalled. Nationwide reported a 0.2% monthly fall in September, taking the average to £274,251, its fourth drop in five months. The Lloyds House Price Index showed prices flat in September at £298,441, with annual growth at 0%. Rightmove’s average asking price rose 1% in October, a normal autumn bounce, but at £371,015 it is still marginally below where it was a year ago.

Local differences matter. Rightmove found new-seller asking prices fell this month in the North East, Scotland, the North West and Wales, an early sign that higher mortgage costs are now reaching the more affordable parts of the country that had held up well earlier in the year.

The cost of getting the price wrong

Perhaps the most telling figure this autumn comes from Zoopla: around a quarter of homes newly listed had been on the market before, and six in ten of those returned at a lower price. In other words, many sellers are learning the hard way that an ambitious starting price doesn’t leave room to negotiate. It simply leaves a home sitting unsold while buyers look elsewhere.

A property that lingers on the portals tends to attract fewer viewings over time, and when the price finally comes down, buyers often assume something is wrong with it. The first few weeks of marketing are when
interest is at its peak, and that’s the window you want to make count.

Five ways to sell successfully in a price-sensitive market

Price for today’s buyer, not last spring’s. Ask your agent for recent sold prices of comparable homes nearby, not just asking prices. Sold data shows what buyers have actually been prepared to pay.

Think about the monthly payment. Buyers are working backwards from what they can afford each month. A price that sits just under a key search threshold, such as £250,000 or £300,000, can put your home in front of far more people.

Make a strong first impression. With so much choice, your listing has seconds to stand out. Professional photography, a clear floorplan and a decluttered, well-lit home all help.

Look beyond the headline offer. A buyer with a mortgage agreed in principle, a solid deposit and no chain may be worth more to you than a slightly higher offer from someone whose finances could unravel if rates move again.

Be ready to move quickly. Gather your ID, property information forms and any certificates or warranties before you go live. With mortgage offers being repriced so often, a quick, smooth sale protects both you and your buyer.

The bottom line

This isn’t a market where homes don’t sell. Zoopla still expects around 1.1 million sales to complete across 2026. But it is a market that rewards realism. Sellers who price competitively from day one, present their home well and choose their buyer carefully are still achieving good results.

Thinking about selling? Speak to your local branch for a free, no-obligation valuation based on what’s actually selling in your area right now.

Sell before Christmas or wait for spring? What the Budget and interest rates mean for your move

The next few weeks bring two big dates for anyone thinking about moving: the Autumn Budget on Wednesday 28 October and the Bank of England’s interest rate decision on Thursday 5 November. Add the run-up to Christmas and it’s no surprise that many homeowners are asking whether to press ahead now or wait until the new year. Here’s what we know, what we don’t, and how to make the right call for you.

What’s happening at the Budget?

The 28 October Budget will be the first delivered by Chancellor John Healey. As with every recent fiscal event, the build-up has been full of speculation about property taxes, and that uncertainty has made some buyers and sellers hesitate.

The good news is that the biggest worry has already been addressed. Prime Minister Andy Burnham ruled out changing or abolishing stamp duty at this Budget back in July, and Downing Street has dismissed reports that stamp duty and council tax could be replaced with a new annual property charge. That commitment covers this Budget rather than the whole Parliament, but it means there is no stamp duty deadline to race, and no reason to hold off in the hope of a cut.

Some changes are already confirmed. The High Value Council Tax Surcharge, often called the ‘mansion tax’, will apply to homes in England worth £2 million or more from April 2028, adding between £2,500 and £7,500 a year. It won’t affect the vast majority of sellers, but owners of higher-value homes will want to watch for any detail on thresholds and valuations.

What about interest rates?

The Bank of England has held Bank Rate at 3.75% since December 2025. At its September meeting, three of the nine committee members voted to raise it to 4%, and with inflation at 3.1% and energy prices elevated, financial markets now expect a rise on 5 November.

Lenders have already priced much of this in, which is why fixed mortgage rates have climbed so quickly. Average two- and five-year fixes are now close to 6%, according to Moneyfacts. Encouragingly, some lenders have started trimming selected deals again in recent days. But there’s little sign of a return to the sub-5% rates we saw in the spring any time soon, so waiting for much cheaper mortgages before you move could mean waiting a long time.

Is it worth selling in the run-up to Christmas?

Many people assume the property market goes quiet once the clocks change, but that isn’t the whole picture. Buyers searching in November and December tend to be serious ones, often with a clear reason to move: a new job, a growing family or a school place. Fewer casual browsers means viewings are more likely to turn into offers.

Timing also works in your favour. Rightmove notes that autumn traditionally brings more active buyers than the summer months. Agreeing a sale now means the legal work can get under way before the new year, putting you in a strong position for a spring move.

It’s worth remembering that stock levels are high. Rightmove says the number of homes for sale is at its highest for this time of year since 2014. Many sellers hold back for the traditional January rush, so competition in the new year could be even greater. Listing now can help your home stand out before the next wave arrives.

The case for waiting

Waiting isn’t always the wrong decision. If you don’t need to move, have no fixed timescale and would prefer to see how the economy settles, there’s nothing wrong with taking time to prepare. Use it well: tackle small repairs, declutter and gather your paperwork so you’re ready to launch in the new year.

What matters is waiting for the right reasons. Holding off in the hope that prices will jump is a gamble. Most forecasts point to broadly flat prices: Zoopla expects annual house price growth to slow to around 0.5% by the end of 2026, and RICS members expect prices to be broadly unchanged over the next 12 months.

Thinking of downsizing?

New research from Barclays found that around a quarter of homeowners would be open to downsizing, and on average they would want to release around £108,500 from the sale to make it worthwhile. Stamp duty and moving costs were the biggest obstacles. With stamp duty confirmed as unchanged at this Budget, downsizers have more clarity on their costs and can plan with greater confidence.

How to decide

The right timing depends on your circumstances, not the headlines. Ask yourself why you’re moving, when you need to be in your next home and what your onward purchase will cost. If you’re buying as well as selling, a softer market can work in your favour: any adjustment on your sale price may be balanced by greater negotiating power on your purchase.

Whichever route you choose, a clear, local view of the market is the best place to start. Speak to your local branch for a free valuation and an honest conversation about whether now, or spring, is the right time for you.

The new landlord register is coming: what the PRS Database means for you

Six months on from the biggest shake-up of private renting in a generation, the next phase of the Renters’ Rights Act is almost here. From 15 December 2026, landlords in England will begin registering on the new Private Rented Sector (PRS) Database. Here’s what you need to know, when your deadline falls and the steps to take now.

Please note: the Renters’ Rights Act and the PRS Database apply to properties in England. Wales and Scotland run their own landlord registration schemes.

A quick recap: what changed on 1 May

The first phase of the Renters’ Rights Act 2025 came into force on 1 May 2026. Section 21 ‘no-fault’ evictions were abolished and almost all assured shorthold tenancies became rolling periodic tenancies. Landlords now need a valid Section 8 ground to regain possession, and the serious rent arrears ground now requires three months’ arrears rather than two. Rent can be increased only once a year, using a Section 13 notice with at least two months’ notice, bidding above the advertised rent is banned, and landlords can no longer ask for more than one month’s rent upfront on a new tenancy. Tenants can also ask to keep a pet, which landlords cannot unreasonably refuse. Landlords with existing written tenancies had until 31 May 2026 to give each tenant the government’s Renters’ Rights Act Information Sheet. If that hasn’t happened, act now and take advice. Phase one was about how tenancies work. Phase two is about who is letting, and where. That’s what the database is designed to answer.

What is the PRS Database?

The database is a national register of private landlords and the homes they let in England. The online service will be called ‘Register your rental property’. Its purpose is to improve transparency and help councils identify, and act against, landlords who aren’t meeting their obligations.

Registration is property by property, not landlord by landlord. Each home must be registered individually with details of the landlord, the property and its compliance. The fee is £65 per property per year, renewable annually. During the rollout the fee will be pro-rated, so landlords in the first regions won’t pay more than those called forward later.

When do you need to register?

Registration opens on 15 December 2026 in the West Midlands. A new region then opens on the 15th of each month, and each has roughly three months to comply. Your deadline depends on where the property is, not where you live.

Region	Registration opens	Deadline
West Midlands	15 December 2026	14 March 2027
East of England	15 January 2027	14 April 2027
East Midlands	15 February 2027	14 May 2027
South East	15 March 2027	14 June 2027
Yorkshire and the Humber	15 April 2027	14 July 2027
North West	15 May 2027	14 August 2027
North East	15 June 2027	14 September 2027
London	15 July 2027	14 October 2027
South West	15 August 2027	14 November 2027

All landlords actively letting in England must be registered by 14 November 2027. If you own homes in several regions, you don’t have to wait: you can register your whole portfolio from 15 December, provided each property is registered before its own deadline.

Why it matters: the possession risk

The biggest consequence of not registering isn’t the fee. It’s possession. Once the registration rules apply to your property, you won’t be able to obtain a possession order while you’re unregistered, other than on the anti-social behaviour grounds. Now that every eviction runs through Section 8 and the courts, an unregistered property could leave you unable to act on serious rent arrears or a planned sale. Councils will also be able to take enforcement action, including financial penalties, once your deadline has passed.

And the Landlord Ombudsman?

A mandatory Landlord Ombudsman will follow, giving tenants a free route to resolve complaints. It is expected to launch after the database, with dates still to be confirmed. There’s no action needed yet, but it’s a good reason to make sure your repair records and tenant communication are well organised.

Six steps to take now

Check the basics from May. Confirm every tenant received the Information Sheet and that new tenancies since 1 May have a written statement of terms.

Gather your documents. Have your gas safety certificate, electrical safety report (EICR), EPC, deposit protection details and any licences for each property ready in one place.

Check ownership details. Make sure the names on your title deeds, mortgage and tenancy agreements match, particularly for jointly owned or inherited properties.

Budget for the fee. Set aside £65 per property per year. For a ten-property portfolio, that’s £650 annually.

Review your rent increase process. Any increase must now follow the Section 13 route, and tenants can challenge it at tribunal. Base your figure on clear local comparables.

Diarise your deadline. Note when your region opens and plan to register early rather than leave it to the last week.

How we can help

Keeping on top of new rules while running a rental property is a lot to manage. If you’d rather not navigate it alone, speak to your local branch about how our lettings and property management services can help keep your homes compliant, your records in order and your tenants happy.

Record rents, rising costs: what landlords need to know heading into 2027

Rents across Great Britain have reached new highs this autumn, yet many landlords are feeling squeezed. Higher mortgage rates, a confirmed tax rise and new compliance obligations are all arriving at once. Here’s a clear look at the numbers and what they mean for your portfolio.

Rents are at record levels

Rightmove’s latest rental report shows average advertised rents outside London have passed £1,400 a month for the first time, reaching £1,418. In London, the average has hit a record £2,825, with annual growth accelerating to 3.2%.

The driver is supply. Nationally, available rental homes are down 2% on a year ago, while tenant demand has dipped by a similar amount, creating a more balanced market than in recent years. London is the exception: available stock in the capital has fallen 9% and new listings are down 7%, while tenant demand has risen 6%.

Rightmove also found that the share of rental homes that were previously listed for sale has fallen from 17% to 15%, a sign that fewer new landlords are entering the market. Meanwhile, the share of homes for sale that were previously rented has stayed stable at around 13%. In short, landlords aren’t leaving in a rush, but fewer are arriving. For existing landlords with well-presented homes, that means demand from good tenants remains strong.

Yields are improving

There is good news for investors. With rents rising and house prices broadly flat, rental yields have improved. Savills reports that landlord caution has constrained supply, especially at the lower end of the market, where competition between tenants has supported rental growth. For landlords looking to buy, a sales market with more stock and fewer buyers also means more room to negotiate on price.

The cost side of the equation

Mortgages. Buy-to-let borrowers have been caught up in the same rate rises as homeowners, driven by the conflict in the Middle East. There are some encouraging signs: lenders including HSBC, Santander and Shawbrook have trimmed selected buy-to-let rates this month. If your fixed rate ends within the next six months, speak to a mortgage broker now, as many lenders let you secure a deal well in advance.

Tax. From 6 April 2027, landlords who own property in their own name will pay income tax on rental profits at 22%, 42% and 47%, two percentage points above the standard rates, in England, Wales and Northern Ireland. This is already law under the Finance Act 2026 and doesn’t depend on next week’s Budget.

Landlords who own through a limited company aren’t affected by this particular change.

To put that in context, on £10,000 of annual rental profit the extra two percentage points add £200 a year to your tax bill. Relief for mortgage interest will also be given at the new 22% rate, so the real impact depends on how your portfolio is financed. It’s well worth modelling now, while there is still time to plan.

Making Tax Digital. Landlords with qualifying income above £50,000 have been keeping digital records and filing quarterly updates since April 2026. The threshold falls to £30,000 from April 2027 and £20,000 from April 2028. If your gross rental income is above £30,000, now is the time to choose compatible software.

Compliance. The new PRS Database will add £65 per property per year for landlords in England, rolling out region by region from 15 December 2026.

What to watch at the Budget

The Autumn Budget on 28 October may bring further changes. Commentators have highlighted capital gains tax, the ‘mansion tax’ threshold and National Insurance on rental income as areas to watch, though none have been confirmed. The sensible approach is to plan around what is already law and treat everything else as speculation until the Chancellor sets it out.

Sell, hold or grow?

For most landlords, the answer won’t be dramatic. A recent Property118 landlord survey found a clear divide: almost 40% of landlords planning to leave the sector said repealing the Renters’ Rights Act would be the main thing to tempt them back, compared with just 14% of landlords who are still buying. That split reflects a wider trend. The rental market is professionalising, and landlords who run their property like a business, with up-to-date compliance, realistic rents and good tenant relationships, are well placed to benefit from strong demand.

A useful next step is a property-by-property review. Compare your current rent with today’s local market rent, note when each mortgage deal ends, check your compliance status and model the impact of the 2027 tax change on your net return. Some properties will be worth keeping, some worth improving, and some may make more sense to sell.

Speak to your local branch for a free rental valuation and portfolio review, and we’ll help you work out the right strategy for each property. For tax planning, we always recommend taking advice from a qualified accountant.