The Grand Myth of the Market Freeze, September 2026 UK Property Market
I was chatting with a neighbour while waiting for my coffee this morning, and they said something I hear almost every day: "Daniel, surely nobody is buying houses right now with the news saying everything has slowed down?"
It’s a common story, isn't it? People often think that if the news isn't screaming about a "property boom," then the whole country must be standing still. But here is a little secret from the front lines: the UK property market isn't a frozen lake; it’s more like a steady, flowing river.
The Myth vs. The Reality The big myth is that the market is stuck. The reality? Over the last month, the average price of a home in the UK actually ticked up to £287,949. To put that in perspective, back in the spring of 2021, that same average home would have cost about £245,397. Even though things feel "quieter" than the frantic days of a few years ago, the value of the roof over your head has been quietly climbing. In fact, compared to this time last year, prices are up by 1.8%. It’s not a sprint, but we are definitely moving forward.
The "Big Boss" of Borrowing If you’ve been wondering why things feel a bit more controlled lately, look no further than the Bank of England. They are essentially the "big boss" who decides how much it costs to borrow money. They set a "base rate," which banks use to decide how much to charge you for your mortgage.
That rate has been sitting at 3.75% since 18 December 2025. Because this hasn't changed in nearly nine months, it has given everyone a chance to catch their breath. Did you know that 58,200 people got the "thumbs up" for a new mortgage last month? That’s 58,200 families who feel confident enough to make a move. When that number stays steady, it tells us that people have figured out their budgets and are ready to get on with their lives.
More Pennies in the Pocket Here is a bit of good news that doesn't always make the front page: people's wages are actually growing faster than house prices. While house prices grew by 1.8% over the last year, average earnings went up by 4%.
Think of it like a race where your paycheck is starting to gain ground on the cost of a home. This makes it just a little bit easier for people to save up or prove to the bank that they can afford those monthly payments.
What does this mean for us in IG10 3? While I spend my days looking at the national picture, I never lose sight of what’s happening on our doorsteps. National trends act like the tide—when the tide comes in, all the boats in the harbour rise together.
When the Bank of England keeps rates steady, it means a family looking at a semi-detached house in IG10 3 can plan their future without worrying that their mortgage offer will expire or jump up in price next week. The stability we are seeing across the UK filters down into our own streets, making our local market in IG10 3 feel more predictable and less like a rollercoaster.
Looking Ahead So, what’s the mood as we head into autumn? We are seeing a market that has found its rhythm. With prices growing slowly and steadily, and more people getting their mortgages approved, the "big freeze" many feared hasn't happened. For homeowners, your nest egg is still growing. For buyers, the market is much calmer and less chaotic than it was a year ago. It’s a great time to stop listening to the myths and start looking at the real numbers.