Nick Leeming, Chairman of Jackson-Stops, comments in response to the ONS Private Rents and House Price data published today, which shows average UK house prices increased by 0.9%, to £273,000, in the 12 months to August 2026:
- This annual growth rate is down from 1.2% in the 12 months to July 2026.
- Average UK monthly private rent increased by 3.8%, to £1,406, in the 12 months to September 2026; this annual growth rate is unchanged from the 12 months to August 2026.
“The latest figures reinforce how finely balanced the housing market remains. There is still an appetite to move, but buyers have considerable choice and are scrutinising value carefully. Properties brought to market in line with recent comparable sales are attracting serious interest, while those that begin with overly ambitious expectations are taking longer to find a buyer.
"As we look ahead to the Budget, clarity and stability will be essential. We hope speculation about changes to property taxation does not again delay decisions in higher-value markets. Reports that the threshold for a high-value council tax charge could be lowered to £1.5 million remain speculation, but buyers and sellers need clarity to plan with confidence.
“Your First Home could make a meaningful difference for those struggling to raise a deposit, but no measure can transform the market in isolation. Its success will depend on housing supply, sustainable mortgage affordability and policies that encourage movement beyond the first purchase. Today’s first-time buyers will become tomorrow’s second-steppers, so the Budget must support a housing market that works at every stage of people’s lives.”
