The national picture

As of mid-2026, the three main house price indices — Nationwide, Halifax, and Rightmove — are all showing modest annual growth in UK residential property values, broadly in the range of 2–4% year-on-year. This follows a period of stagnation and modest falls in 2023–24, driven by the sharp rise in mortgage rates following the Bank of England's rate-hiking cycle.

Mortgage rates have eased from their 2023 peaks, and buyer demand has recovered — though it remains below the levels seen during the pandemic-era market. Transaction volumes are running at around 1.1 million per year, broadly in line with the long-run average but below the 1.3–1.5 million seen in 2021–22.

The regional divide

The headline national figures mask a significant regional divergence. Northern England — particularly the North West, Yorkshire, and the North East — is seeing stronger price growth than the national average, driven by relative affordability, improving transport links, and continued demand from buyers priced out of southern markets.

Scotland and Wales are also performing above the national average in many areas. By contrast, London and the South East are seeing slower growth, with some prime central London segments recording modest falls. The affordability ceiling in these markets is constraining demand, particularly for first-time buyers and those relying on higher loan-to-value mortgages.

Rightmove's asking price data — which tends to lead the transaction-based indices by several months — suggests this regional pattern is likely to persist through the second half of 2026.

What this means for sellers

For sellers, the current market is broadly supportive — demand is present, mortgage availability has improved, and prices are stable or rising in most areas. However, the market is more price-sensitive than it was in 2021–22, and overpriced properties are taking longer to sell and attracting fewer viewings.

The data consistently shows that correctly priced properties in good condition, with their documentation in order, are selling faster and achieving closer to asking price than those that are not. In a market where buyers have more choice than they did two years ago, preparation and presentation matter more.

Source note

This article draws on published data from Nationwide Building Society's House Price Index, Halifax's House Price Index, and Rightmove's House Price Index (rightmove.co.uk/news). All figures are approximate and reflect the position as of July 2026. House price data is subject to revision and should not be relied upon for individual property valuations.

The time-to-sale picture

Rightmove's market data for 2026 shows that the average time between a property being listed and a sale being agreed has increased compared to the same period in 2024 and 2025. In many regions, properties are now taking 60–80 days to find a buyer, compared to 40–50 days during the more active market of 2021–22.

This is partly a function of increased supply — more properties are coming to market — and partly a reflection of buyers being more selective in a market where mortgage affordability remains stretched. Buyers are taking longer to make decisions, conducting more viewings, and being more willing to walk away from properties that are overpriced or poorly presented.

What distinguishes fast sellers

The data consistently shows a bifurcated market: properties that are correctly priced, well-presented, and have their documentation in order are selling significantly faster than the average. Properties that are overpriced, have presentation issues, or are missing key information are sitting on the market for much longer — and often requiring price reductions before finding a buyer.

Rightmove's analysis of listing data suggests that properties listed at the right price from day one achieve sale agreed in roughly half the time of those that require a price reduction. The first two weeks of a listing are disproportionately important — this is when the property receives the most views and enquiries, and when the strongest buyers are most likely to be active.

Preparation as a competitive advantage

In a market where buyers have more choice and are taking longer to decide, the quality of a listing — and the speed with which a sale can progress once an offer is accepted — becomes a competitive differentiator. Buyers who have had offers fall through on other properties are increasingly asking about the seller's level of preparation before committing.

Sellers who can demonstrate that their documentation is in order, their solicitor is instructed, and their property information forms are complete are more likely to attract serious buyers and less likely to experience a fall-through after offer acceptance.

Source note

This article draws on Rightmove's published market data and house price index reports (rightmove.co.uk/news). Figures are approximate and reflect the position as of July 2026.

The leasehold discount is widening

Data from Rightmove and Halifax both point to a widening price gap between leasehold and freehold properties in England and Wales. Leasehold flats in particular are taking longer to sell and achieving a larger discount to comparable freehold properties than was the case three to five years ago.

The gap is most pronounced in markets where there is a significant supply of leasehold flats — London, the South East, and major city centres. In some segments, leasehold flats are achieving 10–15% less than equivalent freehold properties, and time-to-sale is running significantly above the market average.

What's driving it

Several factors are contributing to the widening discount. The ongoing fallout from the cladding and building safety crisis has made buyers and lenders more cautious about leasehold flats, particularly those in buildings over 11 metres. EWS1 requirements, service charge increases, and uncertainty about remediation costs have all reduced demand in affected segments.

The Leasehold and Freehold Reform Act 2024 introduced changes to lease extension rights and ground rent restrictions, but the full implementation of the Act's provisions is still being worked through. Buyers and their solicitors are navigating a more complex legal landscape, which is adding time and cost to leasehold transactions.

More broadly, buyer sentiment towards leasehold tenure has shifted. Awareness of the potential costs — service charges, ground rent (where it still applies), management pack fees, and lease extension costs — has increased, and buyers are pricing these risks into their offers.

What leasehold sellers can do

The most important thing a leasehold seller can do is get ahead of the information that buyers and their solicitors will need. This means requesting the management pack from the freeholder or managing agent as early as possible — ideally before marketing begins, since packs can take 4–8 weeks to arrive and are a leading cause of leasehold transaction delays.

Sellers should also be prepared to provide clear information about the lease term, ground rent, service charges, and any planned major works. Buyers who receive this information upfront are more likely to proceed and less likely to renegotiate after survey.

If the lease term is below 80 years, the cost of extension increases significantly and mortgage availability reduces. Sellers with short leases should take legal advice on whether to extend before marketing, as this can materially affect both saleability and achievable price.

Source note

This article draws on published data from Rightmove (rightmove.co.uk/news) and Halifax's House Price Index. Information reflects the position as of July 2026 and should not be relied upon as legal or financial advice.