April Housing News

sort style and stage
May 6
5 min read

As spring is in full swing so is the housing market.

Take a look at the latest housing news ... based on input from Rightmove, Zoopla, the Bank of England the rental reforms set out by the UK Government.

Rightmove

The market remains resilient despite higher mortgage rates and global uncertainty:

The average asking price increased by 0.8% (+£2,929) in April, reaching £373,971. This rise is smaller than the usual April average of 1.2%, however this is very good
Higher mortgage rates and strong competition with sellers is slowing the price growth this year.
There is a 11 year high for this time of year with the amount of houses available.
Buyer demand is 7% lower than this time last year, this is continuing the trend of lagging behind 2025 numbers.
The number of agreed sales is pretty stable at 3% less than last years figures, however new listings are only 1% lower than last year and 13% higher than 2024! This shows movement and improvements are still happening.
Although the rise in mortgage rates have started to stabalise, there are several factors supporting the market and pushing it forwards. For example, affordability is improving with the average wages increasing 3.9% over the last year this is outpacing asking price growth which is down 0.9%.
Last years changes in mortgage lending rules are allowing people to borrow more, letting them get on the property ladder earlier as the demand is strongest in first time buyers.
The average 2 year fixed mortgage rate has increased from 4.25% to 5.42% due to the war, this adds around £235 per month to a average new mortgage.

Source: Rightmove

Price growth is mainly driven by larger and higher priced properties as these buyers have more funding capacity. Some of these are cash buyers and this buyer profile is not relyiant on mortgages and borrowing costs.

Take a look at the five year house price trend - we're clearly on an upward trajectory.

Source: Rightmove

Coleen Babcock, Rightmove, says:

With mortgage rates remaining elevated due to the war in Iran, it’s not a surprise that price growth is proving strongest in parts of the market less exposed to higher borrowing costs, such as top-of-the-ladder homes, while sectors more exposed to interest rates are seeing slower momentum.

However, for most of the market, the combination of rising mortgage rates and the number of homes for sale being at its highest level for the time of year over a decade, means that competitive pricing is crucial for sellers looking to attract buyer interest and secure a sale this spring.

Zoopla

Although mortgage rates are higher than last year, homes are selling just as fast - on average, houses are taking 1 day longer to sell compared to same period in 2025. This shows how robust the market is depsite the global shocks.

The average house price in the UK is now £271,500, This is a rise of 1.30% or £3,500 over the past year.

Buyer demand has made a comeback after Easter and for the first time since the conflict begun in Iran. This conflict has pushed mortgage rates up and consumers are more on edge due to the financial instability this causes.

Sales are expected to stay stable through 2026, with a small price growth nationally and the north overperforming compared to the south. Although buyer demand is back, it varies throughout the country meaning you need to know what will work best in your area.

Sales in London and southern England are taking longer. Specifically in London, homes take on average 6 days longer to find a buyer compared to 2025.

Source: Zoopla

Serious buyers are returning to the market due to the Middle East ceasefire and lenders have been reducing mortgage rates. Mortgage rates are starting to drop as they spiked in March, this is good news for the market. However we don’t know how much more mortgage rates are going to fall and the long term impacts on the cost of living and trade.

Compared to 2025, there are 5% more homes for sale than in 2025, however, 4% fewer homes have been listed for sale recently as some sellers take stock of market conditions.

Source: Zoopla

Sales are expected to continue growing gradually by around 1% -1.5% during 2026.

Base Rate

The Bank of England Governor Andrew Bailey, has previously hinted that interest rates could rise due to higher energy costs, but stated that the Bank would not rush to make the decision.

On Thursday, 30 April, the Bank of England's base rate was held at 3.75% for the third consequetive month.

The Monetry Policy Committee said that:

" ... Financial conditions have tightened since the conflict began [Iran], which will help to reduce inflation over time. Taking all the risks to the economic outlook into account, the Committee judges that it is appropriate to maintain Bank Rate at this meeting."

Learn more here.

Renter's Right Act

Let's focus for a moment on the rental sector. The Renters’ Rights Act came into force on 1 May 2026 and this is a pivotal change in the way rental properties are let and managed. The key changes are:

Section 21 Evictions Abolished - there is now a "simpler" tenancy structure where all assured tenancies are periodic.
Fair Possession Ground - this gives tenants more security and ensures landlords can recover their property when reasonable.
Stronger Protections Against Backdoor Eviction - tenants can appeal excessive above-market rents which are purely designed to force them out.
New Private Rented Sector Landlord Ombudsman - they will provide quick, fair, impartial and binding resolution for tenants’ complaints about their landlord.
New Private Rented Sector Database - this is intended to help landlords understand their legal obligations and demonstrate compliance (giving good landlords confidence in their position), alongside providing better information to tenants to make informed decisions when entering into a tenancy agreement.
Strengthened Pet Right Requests - landlords must consider and cannot unreasonably refuse a pet.
Decent Homes Standard - intened to give renters safer, better value homes and remove the blight of poor-quality homes.
‘Awaab’s Law’ - clear legal expectations about the timeframes within which landlords in the private rented sector must take action to make homes safe where they contain serious hazards.
Prohibiting Discrimination against Benefit or Those With Children - it is illegal to discriminate both sectors .
Prohibiting "Gasumping" - landlords and agents must publish an asking rent and it is illegal to accept offers above this rate.
Strengthened Local Authority Enforcement - investigatory powers including a new requirement for local authorities to report on enforcement activity.
Strengthened Rent Repayment Orders - extending these to superior landlords (ie. a head landlord or property owner where there’s an intermediate lease or subletting arrangement), doubling the maximum penalty and ensuring repeat offenders repay the maximum amount.