Quick UK Property Market Update

Is the UK property market in the clear? February marks the sixth month in a row where property prices have gone up, with a monthly rise of 0.4%, and 3.9% annually, from the figures from the Nationwide Building Society. It appears that the current economic landscape is showing signs of recovery, with lower mortgage rates, enticing buyers. Though with all the positive signposts there are still major hurdles to overcome, as first-time buyers having to pay approximately five times their annual salary when trying to purchase a property, according to a report and figures by Nationwide. When the stamp duty threshold drops in April, this will also affect the ability of many to buy a home, so we might not be out of the woods just yet.

Inflation is expected to rise to 3.7% in the latter part of 2025, and this coupled with increases to council tax, and utilities, we may see the housing market struggle in the coming months, especially as many look to sell/buy in March before the looking April stamp duty changes.

Buy to let property sales have been reduced recently as investors and landlords were hit with reduced tax reliefs and increased stamp duty. From the price rises we have seen recently in the UK, we are likely to see things slowing down for the next couple of months as buyers and sellers navigate the impact of the imminent changes.