Welcome back to another episode of Padarn Property blogs! This week we'll be discussing the housing market across the UK. 

Last week’s Halifax data made the headlines — and for good reason. House prices across the UK slipped by 0.3% in September, nudging the average home price down to £298,184. 

Now, that might not sound dramatic, but as someone who lives and breathes the property market every day, I can tell you — it’s a subtle shift that feels significant on the ground. 

After a small rise in August, this latest dip suggests we might be entering a cooler phase again. Annual growth is now at 1.3%, the lowest since April, and the market mood has noticeably changed. 

The Market Mood

Over the past week, conversations with clients, buyers and landlords have all carried the same undertone: caution. 

• Buyers are hesitating- Especially those in the upper brackets. The rumblings about potential tax and stamp duty changes are enough to make even confident buyers pause. 

• Sellers are adjusting expectations- Those mid-market homes that were flying out earlier this year are now taking a little longer to move. The best sellers are responding quickly — realistic pricing, small improvements, and openness to negotiation are making the difference. 

• Landlords are nervous- Some are quietly wondering if this is the time to step back, especially with the constant whispers about taxation and new regulations. Others are doubling down, refurbishing to hold or improve yields. 

• Renters, meanwhile, are in limbo- Cooling sales don’t always mean cheaper rents. In many areas, demand is still outstripping supply, keeping rental prices stubbornly high. 

 What’s Driving the Change 

There’s no single cause — rather, a cocktail of influences creating uncertainty: 

• Tax and policy speculation- Talk of adjustments to high-value property taxes and stamp duty thresholds has sent ripples through the market. Uncertainty always slows decisions. 

• Borrowing costs remain sticky- Mortgage rates haven’t surged, but they’re still elevated enough to squeeze affordability. Even minor rate fluctuations are influencing offers and buyer confidence. 

• The wider economic mood- With inflation still in the background and household costs stubbornly high, many people are choosing to wait and see rather than stretch their budgets further. 

• Post-pandemic normalisation- The frenzy of the last few years has eased. What we’re seeing now could simply be a return to a more balanced, realistic market — though that’s easier said than felt if you’re trying to sell right now. 

 What It Means Going Forward 

Here’s how I see things playing out if this trend continues: 

• High-end homes may cool faster- Buyers in the £750k+ range are most exposed to tax speculation and rate sensitivity. Expect longer completion times and tougher negotiations. 

• Buyers gain a little leverage- For those ready to move, this could be an opportunity — fewer bidding wars, slightly softer pricing, and sellers more open to sensible offers.

• Regional Variations will widen- Hotspots with chronic undersupply (think parts of London, Bristol, Manchester) will likely remain buoyant, while more balanced areas could feel a stronger correction. 

• Lettings remain competitive. With many delaying purchases, rental demand stays high — but expect landlords to be more selective and strategic given tighter margins. 

 My Take 

What’s really striking right now is just how psychological the market is. It doesn’t take a full-blown policy change to shift confidence — just the hint of one. 

If you’re selling, now’s the time to stay grounded: price realistically, present well, and move decisively. Don’t chase the market down. 

If you’re buying, have your finances ready and your broker on speed-dial — small windows of opportunity are starting to appear, and timing will matter. 

And for landlords: review your portfolio. Efficiency, yield and compliance are the key words heading into winter. 

 The property market isn’t crashing — it’s catching its breath. And that’s not necessarily a bad thing. Periods like this separate the impulsive from the strategic, and the well-advised from the uncertain. 

If this past week has shown us anything, it’s that confidence — not price — is the real currency of the market. 

As always, if you're looking to sell, buy, or rent, contacts us today!

Until next time, happy house hunting!

Ben McEvoy