The Secret Ingredient in Your Tea, September 2026 UK Property Market
Hello there! It’s Craig Burkitt here. I was chatting with a neighbour recently who was staring at a "For Sale" sign down the road, clutching a mug of tea as if it held the secrets of the universe. They asked me, "Craig, is now a brave time or a silly time to be moving?"
It’s a question that’s been on a lot of minds lately. Behind every number I’m about to tell you is someone like my neighbour—maybe a couple looking for an extra bedroom because they’ve got a baby on the way, or someone finally deciding to trade their big family house for a sunny little bungalow. The data tells us what is happening, but it doesn't always tell us why.
The Big Picture: Steady as She Goes Did you know that the average home in the UK now costs £287,949? To put that in perspective, back in the spring of 2021, that same average house was about £245,397. Over the last five years, it's like our houses have been slowly growing in value while we were sleeping!
Looking at just this past month, prices went up by a tiny 0.33%. It’s not a giant leap, but more like a gentle stroll uphill. Compared to this time last year, prices are up by 1.8%. It’s a bit calmer than the 2.4% jump we saw in August, showing us that the market is finding a nice, steady rhythm rather than racing ahead.
The "Big Bank" and Your Pocket You might be wondering about the cost of borrowing money to buy these homes. The "Base Rate"—which is basically the benchmark the Bank of England sets for how much it costs to borrow—hasn't budged. It has stayed at 3.75% since the last time they changed it way back on 18 December 2025.
Because this rate has stayed the same for so long, it gives people a bit of a "warm blanket" feeling. They know roughly what their monthly payments will look like. In fact, 58,200 people got their mortgages approved this month. That’s exactly the same number as last month! It tells us that despite life getting a bit more expensive (with the cost of everyday things rising by 3.1%), people still feel confident enough to put down roots.
From the High Street to PE29 1 Now, you might be thinking, "That’s all well and good for the whole country, Craig, but what about here?"
Think of the national property market like the tide at the beach. When the tide comes in across the UK, the water rises in every little rock pool too. When the Bank of England keeps rates steady, it affects how much someone living right here in PE29 1 can afford to borrow for that house they’ve been eyeing up on the high street. While I look at 92 different properties locally to see how we are doing, the national mood usually sets the tone for how quickly things move in our own neighbourhood.
What’s Next? As we head deeper into autumn, the property market looks like it’s in a very sensible mood. Wages are growing at 4%, which is faster than the price of houses and the price of milk. This is great news because it means people have a little more "jingle" in their pockets to put towards a move.
If you’re thinking of selling or buying, the "wild rollercoaster" days seem to be behind us. We are in a market where slow and steady wins the race. Whether you're in PE29 1 or further afield, it’s a time for careful planning rather than rushing.