Sales demand at a year-on-year high
Over the last few weeks it’s no surprise that people have begun to hold back on starting their search or listing their properties until they know where they’ll stand financially afterwards.
However, perhaps more surprising to many of you reading, this is how recent and short-term we expect this lull to last…
In October 10% fewer new buyers registered their interest compared with September but 28% fewer new properties came onto the market. This actually meant that demand for each new listing last month increased month on month: 11 buyers for every new listing in October compared with 9 in September.
Our total register of buyers is still 8% higher than it was this time last year and in October, we agreed 8% more property sales and 14% fewer sales fell through than in September – the demand and commitment from those already in the market to buy or sell has been there throughout, and indeed strengthened in October compared with September, slowing only in these last few weeks pre-Budget.
My personal expectation is that those wanting to move will quickly recalibrate post-Budget – whatever it may deliver - and with mortgage rates at their lowest since October 2022 too, the new year market will be busy.
If you’re a home-owner wanting to have sold and moved by Spring or Summer 2026 then my strong advice is to launch as part of our Boxing Day campaign – this ensures that you will capture the annual peak in portal enquiries between Christmas and New Year and have a list of potential buyers lined up and ready to view when you’ve eaten the last of the leftovers and put the Christmas decorations away. Find out more about our Boxing Day campaign here.
Mary Beeton, Interim Managing Director
Rental supply improves whilst demand keeps the market competitive
Mid-way through the final quarter of 2025, the rental market isn’t just proving resilience; it’s still busy.
October delivered a welcome year-on-year increase in the number of new rental properties coming to market, helping to ease supply constraints and driving a 14% increase in new tenancies. In contrast, renewals of established tenancies fell by 11% compared to last year. This shift suggests tenants are potentially considering whether their current accommodation still offers the right value and condition in advance of the Renters' Rights Act set to take effect from 1st May 2026. Many opted to move rather than renew at a higher price, with the increased choice of alternative properties available.
These trends are likely to continue as we move through the remainder of the year. While demand continues to outpace supply, the number of renters has eased slightly as the year progresses. This means that while rental prices are still rising, the pace of rental growth is slowing. As choice for tenants increases through improved supply, it shows the importance of landlords listening to sound pricing advice and presenting properties in good condition to attract tenants and minimise void periods.
There's some good news on the financial front too: borrowing costs for buy-to-let mortgages have eased in recent months. This will bring relief to landlords who are considering refinancing or expanding their portfolios next year. All eyes now turn to the upcoming news of the Budget later this month, which could help remove lingering uncertainty for both landlords and tenants alike.
Catherine Westling, Executive Head of Residential Lettings & PRS
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