House Prices vs Mortgage Rates vs Wages
You can see the rates shock in 2022 impacting affordability negatively, then wage growth helps it recover.
In the last few months, the rise in rates has dominated wages and affordability has slightly worsened.
On a £400,000 house, a standard buyer pays £10,000 in stamp duty, due within 14 days of completion.
Stamp duty is tiered, so you only pay each rate on the slice above the threshold. Second homes and buy-to-lets add 5% on every band.
Retail sales volumes rose by 0.7% in the three months to September 2026 compared with the previous three months.
Fuel sales rose following their poor previous quarter, whilst warm weather helped sales of food and beverages in the latest three months.
Before you offer, check
What would you investigate first at a viewing: flood information, nearby planning, or the sales history?
Check your postcode for free at https://t.co/ZWmtu27zgg.
#UKProperty
Before you offer, check. What would you investigate first at a viewing: flood information, nearby planning, or the sales history?
https://t.co/UNIRzxXhTL
BoE Base Rate forecast for October 2026 - the green line shows the history of what the market was projecting where the rate would be now.
For a long time pre-Iran, it was projected that the rate would be 3.25% by now. In the month after the hostilities began, this left to closer to 4.40% but we are now at the current 3.75% level.
When taking out any mortgage: hope for the best but prepare for the worst. Riding out this financial storm is particularly hard when there is no sign of a break in the clouds ahead. For those facing renewal, budgets will be squeezed, hard choices made along with many a compromise @knightfrank