Is the Property Market Cooling or Cracking?
29th June 2026
What's Happening in Our Local Market?
So, after a bit of a bright start to the year, it feels like our property market has hit a little pause. You might have seen some reports saying UK house prices dipped a bit in May – the first time this year, actually. And the yearly growth has slowed down too.
We've been chatting about it, and it seems like the main things making people think twice are how much homes cost and the current borrowing rates. With everything going on economically and globally, mortgage rates have nudged up a bit, and that's making some of us pause and really consider what we can comfortably afford to borrow.
But here's the thing – this doesn't mean the market is suddenly in trouble! We're actually seeing more of a gentle cooling off, rather than a big crash. People are still moving, buying and selling their homes, which is great. It just means we're all being a bit more thoughtful. Buyers are taking their time, and sellers are looking closely at their asking prices. Those days of just assuming prices will always go up seem to be fading a little.
Looking at the numbers from Propertymark, we've seen fewer people registering as buyers, but the number of sales has stayed pretty steady.
And what about renting? Well, demand is still way, way higher than what's available – we're talking about nine people looking for every single rental home! It's a real squeeze out there. On the flip side, it's interesting to note that over the last decade, a lot of homes have actually left the private rental sector. But, at the same time, new homes coming onto the market, partly thanks to new developments, mean we've actually got the most rental supply we've seen in about seven years.
So, the story for June isn't just about prices falling. It's more about our market finding its balance again.
Our Perspective
Our advice to everyone is: don't panic! Whether you're buying, selling, or renting, a changing market just means we all need the right guidance.
If you're selling: Getting the price just right is key.
If you're buying: Making sure it's affordable and getting sound mortgage advice is super important.
If you're a landlord: Understanding all the rules and knowing what local renters are looking for is more crucial than ever.
We're here to help navigate these shifts together!