The property market has entered spring in a more resilient position than many might expect.
Despite ongoing global uncertainty, buyer demand is recovering, stock levels are at their highest in over a decade and asking prices are steady. Whether you are thinking of selling, buying or letting, here is what the latest data tells us - and what it means for you.
The bigger picture
March has brought with it a degree of cautious optimism. Average asking prices rose by 0.8% by mid-March to reach £371,042, a seasonal uptick that reflects the traditional spring bounce in market activity. Annual price growth remains modest, however, with national values still sitting at -0.2% .^
Sales activity is also holding up well. The number of sales being agreed is running just 2% behind the same period last year, which was itself a strong market due to the end of the stamp duty holiday, and is 5% ahead of where things stood in 2024.^ This is a meaningful signal that the market is moving, even if the pace still feels steady rather than swift.
The wider economic backdrop does warrant attention. Mortgage rates have ticked upward, with the average two-year fixed rate rising to 4.51% from 4.24% earlier in the month.^ While the market has so far absorbed the impact of fresh geopolitical tensions, it’s still too early to know how sustained uncertainty might affect confidence in the months ahead. For now, though, the fundamentals remain intact.
The broader economic picture, including the trajectory of mortgage rates and any further geopolitical developments, will shape the rental market as much as the sales market. The rental market remains healthy with a 2% increase in rental costs annually, but the market is changeable and regional differences remain stark due to various factors such as affordability.**
For sellers: price smart from the start
If you are considering putting your home on the market this spring, the conditions are more favourable than they were six months ago.
Buyer registrations across Great Britain rose 1.5% year-on-year in February, marking the strongest start to the year for new applicants since 2022. London led the way, with the number of people registering to buy jumping 8% compared to the same time last year, driven largely by a surge in Outer London activity. The South East and South West also saw demand pick up, with registrations climbing 7% and 4%, respectively.*
However, buyers have more choice than they’ve had in years. The total number of homes available to purchase is at its highest point for this time of year in over a decade, with stock levels running 52% above where they were in February 2019.* That means competition among sellers is real, and homes that are not priced correctly from day one risk being overlooked entirely.
The good news is that engagement with new listings is improving. Of the homes that came to market in January 2026, nearly 89.7% had received viewings by early March, and just over half had received an offer - both figures ahead of where they stood for homes launched at the same point in 2025.*
The message for sellers is clear: a well-priced home in good condition will attract attention. Be wary of overpricing, in a market where buyers have plenty of choice, you can be overlooked if not strategic.
For buyers: the window of opportunity is open
For those looking to purchase, the current market offers a combination of conditions that hasn’t been seen for some time - and it’s worth paying attention to.
Stock levels are at an eleven-year high, meaning there’s more choice available than there has been for a long while. New listings coming to market are running 7% ahead of 2024 levels, giving buyers a broader pool to search from. With this, sellers are more willing to negotiate than they were a year ago, so there’s room to secure a sensible deal.^
First-time buyers in particular may find this a compelling moment. Asking prices for typical first homes have edged slightly lower, and while saving a deposit remains a challenge given the ongoing cost-of-living pressures and near-record rental costs, those who are in a position to proceed have more leverage than they might realise.^
The one note of caution is mortgage rates. After having fallen earlier in the year - which helped fuel February's demand rebound - rates have since nudged back up. Locking in the right deal and moving with purpose, rather than waiting indefinitely for rates to fall further, may prove to be the more pragmatic approach as the year progresses.^
For landlords: a market in transition
The rental market continues to operate against a backdrop of strong underlying demand. With average rents remaining close to record levels with a 2% annual increase**, the financial case for property investment holds - though the landscape is evolving.
As buyer confidence gradually returns and more first-time buyers re-enter the market, some of the demand that has been channelled into renting may begin to shift. London, where buyer registrations have risen most sharply, is likely to be the first place where this transition becomes visible.
Landlords in the capital should keep a close eye on how tenant demand evolves over the coming months, even looking as granular as different prices and behaviour across boroughs within the capital. For example, areas such as Haringey and Islington are seeing a –5% drop in rents annually, whereas areas such as Bexley and Greenwich are seeing a 5.5% rise.**
At the same time, the increase in available stock - and the modest price growth that comes with it - may present acquisition opportunities for landlords looking to expand their portfolios. With sellers more open to negotiation than they were in previous years, there’s scope to secure assets at sensible values.
Looking ahead
The property market isn’t without its challenges, but it’s proving more resilient than the headlines might suggest. Demand is recovering, stock is plentiful and prices are holding steady. For buyers, sellers and landlords alike, the spring of 2026 offers real opportunity - provided you go in with open eyes and the right guidance, find your nearest branch here.
